The monetary policy fine-tunes Zheng sugar to follow the commodity market rebound

Despite the fact that the political stability in Italy and the better-than-expected U.S. consumer confidence data were boosted, the U.S. and European stock markets surged across the board on the 11th. The three major stock indexes of the U.S. stock market rose by about 2%, and the Pan-European blue chip stocks index rose by 2.1%. However, due to the expected increase in sugar production in the northern hemisphere, the price of raw sugar futures in the ICE sugar market failed to follow other commodities and the stock market's rally to a one-month low on the back of pressure from investment shorts and worries that India will export to the international market next week. It appeared to be relatively weak. The 1203-day period fell by about 39 points to close at 25.0 cents/lb; the 1205 period fell by about 38 points to close at 24.39 cents/lb.

The domestic sugar market was in the turn of the new and old crop season. By the end of the 11th, there were 33 sugar mills in the country. The number in Guangxi was still 2. There was no sugar factory in Yunnan. It was reported that the sugar content in ratoon cane in Guangxi Chongzuo Jiangzhou District was 0.5% lower than the same period of last year. From the view of sugar mills, the sugar content and sugar yield of sugarcane are not satisfactory. It is reported that sugar mills in Chongzuo, Laibin, Nanning, and Baise’s major sugar-producing cities will generally be squeezed between the end of November and the beginning of December. Most sugar mills in Liuzhou, Hechi, Guigang and other places are expected to enter in early December. Crop production, while some sugar factories in Qinzhou are not expected to open until mid-December. In the same period last year, four sugar mills in Guangxi have started production.

In the external disk fell, the domestic spot market is relatively strong, new sugar market delays, Zheng sugar sharply oscillated today, 1205 fell sharply after the opening, but was pulled up, the sudden rise to 6770 in the morning of the close of trading At the end of the trading day, it returned to below 6700. The magnitude of fluctuations in the month was second only to November 2. Quotes can be described as dramatic.

The data released on the 11th showed that in October China’s renminbi loans increased by 586.8 billion yuan, an increase of 17.5 billion yuan year-on-year, and credit policies have eased, and the inflection point of liquidity may appear. Chairman Hu's remarks at the G20 summit indicated that maintaining economic growth is the primary focus. If the external situation continues to deteriorate, domestic monetary policy may not be ruled out from the possibility of fine-tuning, and various loosening and stimulus policies may be introduced in succession to ensure economic growth.

Under the support of basic orientation and warmer macroeconomics, Zheng Sugar rebounded following related products. Although the seasonal rebound appeared to be more twisted, the rebound trend continued, and the bullish mentality and position were kept flexible.