Jul 07, 2025 3:43 a.m.

China Morning Snapshot - 29 August 2018

China Morning Snapshot - 29 August 2018

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Dalian Commodity Exchange traded range bound throughout the morning session, from which most spot traders decided to make no changes in the latest offers. 

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

In an interesting note, total PP and PE inventories at Sinopec and CNPC’s warehouses fell 35,000 tons day-on-day to 755,000 tons as of 29 August 2018. Sources informed that most of these quantities are pushed to distribution market as part of the producers’ month end stock-count. 

A woven bag converter with monthly consumption of 300 tons said that due to weak end product demand during the typhoon season, they have cut purchases to 60 tons monthly. “We might continue to buy in small quantity until demand recover,” a source from the converter added. 

Spot traders meanwhile are complaining about the swelling on-hand inventories levels during the month-end and only hope to see better transaction in September when the manufacturing season kick-start.