China Morning Snapshot - 30 August 2018

Dalian Commodity Exchange remains soft in the early trading hours, however, spot ground holds mostly steady as major producers are waiting to announce fresh prices for September delivery. 

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

Total PP and PE inventories at Sinopec and CNPC’s warehouses fell 20,000 tons day-on-day to approximate 735,000 tons as of 30 August 2018. Distributors and traders reportedly take most of the quantity.

In the meantime, it appears that agricultural film converters are slowing down on purchases claiming slower end product digestion. “We also prefer to wait for some price adjustments before making decision,” a buyer commented.