On July 14, sugar producers and distributors in Guangzhou quoted prices at 5,220–5,270 RMB/tonne, a decrease of 20 RMB/tonne from the previous day. As of the end of June, industrial inventories in Guangxi stood at 2.6694 million tonnes, an increase of 1.345 million tonnes year-on-year.

Regarding the spot market, the quoted price range of 5,220–5,270 RMB/tonne in Guangzhou on July 14 represented a 20 RMB/tonne drop from July 13. Guangxi's industrial inventory level of 2.6694 million tonnes at the end of June—up 1.345 million tonnes year-on-year—highlights supply pressure, creating a bearish factor for spot prices. In the futures market, the benchmark white sugar contract (2609) on the Zhengzhou Commodity Exchange closed at 5,255 RMB/tonne on July 13, a marginal rise of 3 RMB/tonne; however, bearish fundamental expectations are likely to weigh on futures trends, keeping prices under pressure in the short term.

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