白糖数据日报-20251201

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The global sugar supply has shifted from shortage to surplus, putting downward pressure on raw sugar prices. The domestic new - crop supply pressure has increased year - on - year, and it is expected that Zhengzhou sugar will face upward pressure and mainly follow the trend of raw sugar [4] 3. Summary by Relevant Content Domestic Sugar Spot Market - In Nanning Warehouse, Guangxi, the price on 2025/11/28 was 5615, with an unchanged value, a 2529 basis, a 215 basis against 2601, and a 2532 change in basis [4] - In Rizhao, Shandong, the price was 0, with a - 5800 change, a 100 basis, a - 5500 basis against 2601, and a - 5797 change in basis [4] Domestic Sugar Futures Market - The price of SR01 was 5400, with a - 3 change, and the spread between SR01 and SR05 was 73, with a - 5 change [4] - The price of SR05 was 5327, with a 2 change [4] International Market Exchange Rates - The exchange rate of RMB against the US dollar was 7.1002, with a 0.0065 change [4] - The exchange rate of the Brazilian real against RMB was 1.2818, with a 0.0212 change [4] - The exchange rate of the Indian rupee against RMB was 0.084, with a - 0.0004 change [4] International Commodity Futures Market - The price of ICE raw sugar主力 was 15.21, with a 0.09 change [4] - The price of London white sugar主力 was 573, with a 3 change [4] - The price of Brent crude oil主力 was 62.32, with a - 0.6 change [4]