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Dalian Commodity Exchange endures volatile trading hours this morning to enter the break-time on a diverged notch. While PP contract gained CNY12/ton ($2/ton) from the previous trading day, LLDPE loses CNY50/ton ($8/ton). Both contracts closed at CNY9295/ton ($1249/ton without VAT) and CNY9420/ton ($1266/ton without VAT) respectively.    

The tactic of offering discounts on spot cargoes to smoothen sales process seems working as total inventories at Sinopec and CNPC warehouses fell 25,000 tons from the previous trading day to approximate 765,000 tons as of 17 May 2018. A discount of CNY50/ton ($8/ton) continues to be available this morning, though buyers are very conservative in making large buy.

In Eastern China, spot homo-PP traded at CNY9150-9300/ton ($1230-1250/ton without VAT).

In Northern China, spot LLDPE film traded at CNY9650-9800/ton ($1297-1317/ton without VAT).