Today (Feb 18), the market for sugar in China is shown as follows:

The most-active contract for sugar futures post further gains after opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active May contract ended 90 CNY/tonne higher at 5,337 CNY/tonne with the high of 5,347 CNY/tonne and the low of 5,275 CNY/tonne; nearby March contract settles 95 CNY/tonne higher at 5,291 CNY/tonne with the high of 5,295 CNY/tonne and the low of 5,232 CNY/tonne.

Spot sugar prices mainly edge up and partly not available today. New sugar is priced at 5,270-5,320 CNY/tonne in Guangxi, an increase of 10 CNY/tonne from February 5^th; in Yunnan, new sugar is priced at 5,300-5,340 CNY/tonne in Kunming and 5,270 CNY/tonne in Dali with a rise of 20 CNY/tonne compared to before Spring Festival holidays; new sugar is offered 20 CNY/tonne higher at 5,220-5,260 CNY/tonne in Zhanjiang, Guangdong; new sugar is 20 CNY/tonne higher at 5,190-5,210 CNY/tonne in Hainan. Likewise, processed sugar prices go up and partly keep steady. Grade I carbonized sugar is not available in Fujian, 10 CNY/tonne higher at 5,350 CNY/tonne in Guangdong, 5,480 CNY/tonne in Shandong, 5,380 CNY/tonne in Liaoning and 20 CNY/tonne higher at 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures go up with high opens today. But market participants are mostly taking a wait-and-see attitude as it is the first opening after Spring Festival holidays. And some traders mainly fulfill the previous orders. It is expected that sugar market will keep range-bound in the afternoon.

(USD $1=CNY ¥6.45)