<kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                                                              <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                                                                      <kbd id='881avTCyQ'></kbd><address id='881avTCyQ'><style id='881avTCyQ'></style></address><button id='881avTCyQ'></button>

                                                                                                                                                                          澳门网上博彩:白糖资产偏强震荡 等待政策指引

                                                                                                                                                                          2019-05-09 01:50 深圳蝉联新闻网

                                                                                                                                                                          糖业股在经过4月下旬调整之后本周出现止跌迹象,国内白糖期货近期走势也强于外盘。分析人士指出,1-4月产销数据靓丽为糖市带来信心,但在印度调高估产数据及国内进口政策未落地的情况下,糖市仍存调整风险。

                                                                                                                                                                          白糖内强外弱

                                                                                                                                                                          “五一”假期期间,国际原糖市场大跌近3%,国内白糖期货在节后跳空低开后便反弹补上缺口。糖市目前外强内弱格局较为明显。

                                                                                                                                                                          国投安信期货分析师王佳博表示,引发外盘原糖期货下跌的因素主要有两点:首先,巴西乙醇价格自高位大幅回落。其次,印度继续调高估产。ISMA(印度糖厂协会)数据显示,截至4月30日,印度2018/2019榨季累计产糖3212万吨,同比增加93.6万吨,同时预估2018/2019榨季印度产量升至3300万吨的创纪录高位,高于上榨季的3250万吨,也高于1月预估的3070万吨。

                                                                                                                                                                          “目前国际市场悲观预期较重,多家国际贸易商皆表示看空市场。亚洲高产限制了外盘上行空间,即使盘面下跌但远期的贴水仍在下调,说明下游接货意愿很差。”王佳博认为,不过从远期看,印度水资源危机仍是多头救命稻草。印度水资源部数据显示,马邦降水量已低至19.63%,去年同期为32.6%,马邦甘蔗产量占印度产量的33%,市场认为水源紧张将大幅削减2019/2020榨季印度产量,尽管2018/2019榨季印度结转库存将升至1400-1500万吨的历史高位。

                                                                                                                                                                          “近期,2018/2019榨季印度糖产量预期调整对短期市场有偏空影响,但从大周期来看,基本面并没有发生较大变化。2018/2019榨季全球糖产需结余值仍较上榨季大幅回落,2019/2020榨季主产国减产预期增强,全球糖产需结余值继续下行,供需持续收紧,支撑原糖价格周期反转向上。”信达证券分析师康敬东表示,近期原糖期货价格下行,主要是由于主产国印度糖产量预期上调以及资金面的影响,预计糖周期反转趋势不改。

                                                                                                                                                                          等待政策指引

                                                                                                                                                                          从国内来看,市场人士指出,近期国际原糖价格下跌明显将带来走私量增加,此外合法进口方面也存在变数,将持续影响国内市场。

                                                                                                                                                                          不过,从前期表现来看,王佳博指出,由于1-4月进口方面维持地量供应,国内糖厂加速消耗库存,除广西产销略低于预期,其他产区(除内蒙古)产销利全部处于历史高位,广东库存更是消耗殆尽。预计在合法进口集中涌入前,糖厂挺价意愿很强,延续对郑糖弱势反弹的判断,预计国际糖价在11-11.5美分附近才会出现明显的止跌,价格触及该位置后如何演绎还需等待原油价格走势进一步指引。

                                                                                                                                                                          “目前市场对政策端比较担忧,抛储和放松进口预期较强,如果政策放松则将会导致供应增加。”兴证期货研究指出,现货方面,为享受增值税下调的福利,3月贸易商纷纷囤货,目前有出货需求,现货可能会承受一定的压力。总体来看,如果国内进入减产周期,郑糖就具备长期上涨基础,但目前甘蔗价格较高,政策端也有放松迹象,在没有出现新利多题材的情况下,郑糖可能会继续回调。