China Morning Snapshot - 27 July 2018

On the final trading day of the week, Dalian Commodity Exchange remains on a soft note. Entering the break-time, September delivery contract for both PP and LLDPE loses CNY10/ton.

Domestic suppliers have no choice but to soften the stance on spot offers much effort to hold prices stable in the previous day. 

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

Total inventories at Sinopec and CNPC’s warehouses reduced 20,000 tons from yesterday to 630,000 tons as on 27 July 2018.

Demand in Northern China is steady, sources said, which help to digest a good quantity of LLDPE and LDPE film. The agricultural film sector might continue to improve in the coming weeks as the traditional high demand season is just around the corner.