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January delivery contract for both PP and LLDPE on Dalian Commodity Exchange steadily moving into the green side this morning, which boost trading activities in spot ground.

Details on the spot and futures prices are shown in the following table:

Inventories at Sinopec and CNPC’s warehouses dropped 15,000 tons from the previous trading day to 790,000 tons as of 28 August 2018. (Correction: Total PP and PE stocks at Sinopec and CNPC’s warehouses only rose 70,000 tons over the weekend to 805,000 tons on 27 August.)

Sentiment in the domestic spot market improved visibly on the second trading day of the week, sources said, while claiming satisfactory sales result throughout the morning session. “This is a positive signal. Market is having more confidence as the government stepped up effort to stabilize the Yuan,” a trader said.