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Dalian Commodity Exchange for PP and LLDPE poses opposite direction for the morning session. PP contract for September delivery dropped CNY17/ton ($3/ton) by the end of the morning session at CNY9232/ton ($1188/ton without VAT) while LLDPE increased CNY25/ton ($4/ton) to CNY9250/ton ($1190/ton without VAT).

At the time this report is published, spot homo-PP in Eastern China rollover at CNY9200-9300/ton ($1184-1197/ton without VAT), EXW China, cash equivalent.

Spot LLDPE film in Northern China remained largely unchanged at CNY9200-9300/ton ($1184-1197/ton without VAT) with the same term.

Total inventories at Sinopec and CNPC’s warehouses reduced 30,000 tons from yesterday to approximate 725,000 tons as of 03 July 2018. Due to firmer futures market for LLDPE this morning, most of the sellers are holding firm stance on their offers, despite weak deals concluded. Some players informed that most probably prices will continue being supported by recent firm crude price as well as weak Chinese Yuan atmosphere, while mostly are planning to adjust their offers according to market movements.