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Dalian Commodity Exchange regained some strength this morning, however, market participants remain pretty cautious. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses dropped 25,000 tons from the previous trading day at 820,000 tons as on 04 September 2018.

Trading activities are slower compared to the first day of the week mostly due to the fact that buyers have replenished comfortably at competitive price levels while arbitrage traders have depleted most quantity. “Response for PP is better than PE and that is something unusual. In any case, we do expect to see better transactions in the coming weeks,” a trader said.

China market will be off the whole first week of October for National Day, stemming speculations that buyers would need to make replenishment before the holidays.