Today (Apr 8), the market for sugar in China is shown as follows:

The most-active contract for sugar futures retreats from opening high on China’s Zhengzhou Commodity Exchange. As of 11:30 am, the most-active September contract ended 6 CNY/tonne lower at 5,362 CNY/tonne with the high of 5,384 CNY/tonne and the low of 5,355 CNY/tonne; nearby May contract settles 7 CNY/tonne lower at 5,287 CNY/tonne with the high of 5,306 CNY/tonne and the low of 5,281 CNY/tonne.

Spot sugar prices mostly keep steady in the morning, while the trading is quiet. Grade I sugar is steadily priced at 5,260-5,340 CNY/tonne in Guangxi; in Yunnan, grade I sugar is priced at 5,250 CNY/tonne in Kunming and 5,220 CNY/tonne in Dali, unchanged; grade I sugar is unchangeably priced at 5,240-5,270 CNY/tonne in Zhanjiang, Guangdong; grade I sugar also remains flat at 5,240 CNY/tonne in Hainan.

Processed sugar prices stay stable with a slight increase in coastal regions. Grade I carbonized sugar is unchanged at 5,450 CNY/tonne in Fujian, 5,360 CNY/tonne in Guangdong, 5 CNY/tonne higher at 5,505 CNY/tonne in Shandong, 5,390 CNY/tonne in Liaoning and 5,380 CNY/tonne in Hebei.

Zhengzhou sugar futures closed modestly lower today. But spot market still stands firm. Market participants are taking a wait-and-see attitude. It is predicted that sugar prices will keep range-bound in the afternoon.

(USD $1=CNY ¥6.55)