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Dalian Commodity Exchange remains firm throughout today’s morning session, however, spot market finds it difficult to conclude deals without offering some discounts. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses piled up 5,000 tons from yesterday at 775,000 tons as on 19 October 2018. This is the second sessions in a row that inventories build up instead of digesting. 

Chinese buyers continue adopting a conservative stance toward fresh replenishment assuming that the current market needs a correction. “Our customers are demanding for additional discounts, especially for PP. Supply might gradually ease in the coming month thanks to the heavy arrival of import cargoes,” a trader commented.

In the meantime, agricultural film converters in the Northern China area continue making replenishment to satisfy peak demand season.