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Dalian Commodity Exchange continues tracking the softening trend throughout the morning session. As transactions become weaker toward the end of the week, traders started offering some discounts on spot prices to entice demand. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses drop only 5000 tons day-on-day to approximate 680,000 tons as on 19 July 2018. This is the slowest trading day this week; sources said pointing to the fact that buyers are resisting higher price levels.

“We are only able to achieve less than 50 per cent of the daily sales target throughout the week. Our regular customers are unable to accommodate the recent strengthening in raw material prices, therefore, mostly adopted a wait-and-see attitude,” a trader said.