Industry Report Overview 1. Report Information - Report Name: Sugar Daily Report - Date: June 27, 2025 - Analysts: Wang Haifeng, Lin Zhenlei, Yu Lanlan, Hong Chenliang, Liu Youran [3] 2. Core Views - New York raw sugar futures rebounded slightly, with the main October contract up 1.59% to 16.62 cents per pound. London ICE white sugar futures' main August contract rose 2.4% to $479 per ton. Frost in Brazilian sugar - cane regions and an increase in the ethanol blending ratio in gasoline are expected to reduce sugar - making raw material supply [7]. - Zhengzhou sugar's main contract rose slightly. The 09 contract closed at 5,790 yuan per ton, up 63 yuan or 1.1%, with a reduction of 15,891 positions. Domestic spot prices rose. Zhengzhou sugar was strong, with limited fundamental changes. After being pressured by funds, it faced strong resistance below 5,600 yuan, and large speculative short - positions leaving supported the price [8]. 3. Summary by Section 3.1 Market Review and Operation Suggestion - Futures Market: SR509 closed at 5,790 yuan per ton, up 63 yuan or 1.1%, with a position reduction of 15,891 contracts; SR601 closed at 5,601 yuan per ton, up 40 yuan or 0.72%, with a position increase of 956 contracts; US Sugar 10 closed at 16.62 cents per pound, up 0.26 cents or 1.59%, with a position increase of 8,324 contracts; US Sugar 03 closed at 17.26 cents per pound, up 0.22 cents or 1.29%, with a position increase of 2,553 contracts [7]. 3.2 Industry News - Brazil will increase the mandatory anhydrous ethanol blending ratio in gasoline from 27% to 30% and the biodiesel blending ratio in ordinary diesel from 14% to 15% starting August 1 [9]. - Itaú BBA predicts that the sugar - cane crushing volume in Brazil's central - southern region in the 2025/26 season will be 590 million tons, a 5% year - on - year decrease. However, sugar production is expected to reach 41.2 million tons, a 2.7% year - on - year increase, with a sugar - making ratio of 52% and an average ATR of 141 kg per ton [9]. - Indonesia's 2025 white sugar production is expected to be 2.75 million tons, higher than last year's 2.45 million tons. It plans to import about 200,000 tons of raw sugar, and the demand in 2025 is expected to reach 2.84 million tons [9]. - As of the week ending June 18, the number of ships waiting to load sugar at Brazilian ports was 76, down from 80 the previous week. The sugar volume waiting to be shipped was 2.8539 million tons, a 1.94% week - on - week decrease [9]. 3.3 Data Overview - The report provides multiple data charts, including spot price trends, contract basis, spread, import profit, warehouse receipts, exchange rates, and the trading and position data of the top 20 seats of Zhengzhou sugar's main contract [11][13][20][23]
白糖日报-20250627
Jian Xin Qi Huo·2025-06-27 01:47