China Morning Snapshot - 05 September 2018

Dalian Commodity Exchange is rather fluctuating throughout the morning session, though ended in the red zone by the break-time. Domestic spot market has not responded strongly to the futures trading, from which offers remain mostly unchanged day-on-day. 

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 from the previous trading day to 780,000 tons as on 05 September 2018. (Correction: Total inventories on 4 September 2018 was 810,000t tons)

Due to heavy maintenance shutdown in local ground, availability for homo-PP is rather tight, sources said. Couple of major makers even limits the offered quantity to the spot ground. “And yet, we can’t really implement any major hike on the prices. Buyers would only make replenishment if we offer discounts,” a trader commented.