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白糖数据日报-20250918
Guo Mao Qi Huo· 2025-09-18 11:09
Report Summary 1) Report Industry Investment Rating No relevant content provided. 2) Core View of the Report - The supply is diversified during the new sugar - cane crushing season transition period. The competition between processed sugar and domestic sugar intensifies. The market is expected to maintain range - bound trading. It's necessary to be vigilant about the risks of declining import costs and unmet demand expectations. If Brazil's sugar production exceeds expectations or India relaxes sugar exports, raw sugar prices may test previous lows [3][4]. 3) Summary by Related Content Domestic Sugar Price and Futures Data - On September 17, 2025, the spot sugar prices varied by region: 5970 yuan/ton in Nanning Warehouse, Guangxi; 5860 yuan/ton in Kunming, Yunnan (down 5 yuan); 5715 yuan/ton in Dali, Yunnan; 6000 yuan/ton in Rizhao, Shandong. SR09 futures price was 5519 yuan (down 11 yuan), and SR01 was 5529 yuan (down 18 yuan). The spread between SR09 - 01 was - 10 (up 7) [4]. Exchange Rate and International Commodity Data - The exchange rate of RMB against the US dollar was 7.1276 (down 0.0093), the exchange rate of the Brazilian real against the RMB was 1.2818 (up 0.0212), and the exchange rate of the Indian rupee against the RMB was 0.084 (down 0.0004). The ICE raw sugar main contract price was 15.88 (unchanged), the London white sugar main contract price was 573 (up 3), and the Brent crude oil main contract price was 68.49 (unchanged) [4].