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Dalian Commodity Exchange is tracking the weakness in the global equity market and remain in the red zone throughout today’s morning session. Domestic spot market, therefore, also witnessing reduction though buyers are no longer as aggressive as last week.

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

Total inventories at Sinopec and CNPC’s warehouses digested 30,000 tons in the previous trading day to 760,000 tons as on 16 October 2018. (Correction: Total inventories at Sinopec and CNPC’s warehouses on 15 October were at 790,000 tons).

Sentiment in the local ground is visibly slower and traders are complaining about difficulties in attracting deals at the given prices. “Buyers are either demanding for further cuts or just wait and see on the sideline. At the moment, PP supply remains tight and therefore, we do not expect any major downturn in the foreseeable term,” a trader informed.