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Dalian Commodity Exchange was relatively weak during the first trading hours of the day, however, managed to recover most of loses by the break-time. Meanwhile, major domestic producers have mostly stopped offering for August delivery, sources said leaving only traders giving some discount to facilitate sales process. 

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

Local inventories based on Sinopec and CNPC’s data remain unchanged day-on-day at 735,000 tons as of 31 August 2018. More movement is expected in the coming week.

Market is calm on the final trading day of the month, sources said. “Buyers are mostly on the wait and see position. Sales are not strong today,” a trader commented.