区间震荡 | 中国食糖周报 China Weekly 19th June

  • 我们维持上周观点,认为短期内国内白糖期货价格仍将维持区间震荡。 

市场热点 & 观点

 国际糖市的基本面维持看空。我们认为主产区天气风险的加大,以及商品的总体走强会吸引更多投机买盘。但市场仍然面临着生产者套保的压力,未来9个月预计还有120万吨原糖需套保至原糖合约。因此我们认为原糖走强的动能持续时间有限。  

过去两周伴随原糖价格的回升,郑糖价格也回弹近3.4%。这得益于空头动能衰竭,多头动因包括打击走私,云南干旱影响,虫害,以及销售数据的偏利好。但截至6 中,云南降雨已经达到五年均值的38%,如果降雨持续应可缓解干旱情况。而上周关于印度食糖和缅甸食糖进口的相关消息短期可能打击市场多头动能。 

郑糖 & 纽约原糖价格


淀粉糖价格

  • 我们认为2019年果葡糖浆对白糖的替代仍将继续。 
  • 这是因为白砂糖和果葡糖浆(等糖价)的价差仍然维持在1500-1600/吨。 
  • 目前玉米价格维持高位,加之进入夏季饮料需求走旺,支撑了果葡糖浆价格的稳定。  

中国玉米期货价格 & 果葡糖浆价格

Rosa Li

How Will the Fuel of the Future Bill Impact Brazil’s Energy Industry?

Brazil should soon approve the Fuel of the Future bill. It was created to encourage the production and use of sustainable fuels. Among the proposals are goals for an increase in the mixture of ethanol in gasoline and targets for the use of biomethane and SAF.

Ana Zancaner

2天 前

5 min

Why SAF is the Best Tool to Reduce Net Carbon Emissions

Sustainable aviation fuel (SAF) is the only realistic route for net carbon emissions to be reduced for air travel. However, the challenge for producers is now to upgrade the energy content of SAF feedstocks so they can compete with traditional alternatives.

John Buxton

2天 前

2 min

SAF Supply and Demand Dynamics

  • There are a few well-established production pathways for SAF.
  • However, these come with their own benefits and disadvantages.
  • More pathways are being approved but scale is proving to be a challenge.
Adelia Lei

John Buxton

3周 前

2 min