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QSL Market Update

Tuesday, 06 March 2018

The March 2018 contract expired on Wednesday night. Brazil and Guatemala delivered 14,618 lots with Wilmar and Alvean the receivers of raw sugar.

It was another week of consolidation, with no fundamental news. Macro volatility continues to drive the market.

Sugar broke the 13-cent barrier at the start of the week, trading to a low of 12.82 c/lb only to bounce immediately to the high on Friday of 13.80 c/lb before settling 4 points lower on the week.

Short-term support remains at 13 cents, while trading above 14 cents remains a hurdle for the market. Focus on the origins of the global surplus is being diverted away from Brazil, with the main production rises expected in India, Pakistan and the EU should they start to export from the whites market, with some coming from Thailand raws. 

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