China Morning Snapshot - 06 September 2018

Dalian Commodity Exchange traded range bound throughout the morning session, while players are rather conservative and watching out for the final decision of the US government on the implementation of the third round of tariffs on Chinese imports.

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

Total inventories at Sinopec and CNPC’s warehouses reduced 15,000 tons from yesterday at 765,000 tons as on 06 September 2018.

Sentiment in the domestic spot market is average today, sources said and deals are mostly materialized at the lower end of the overall price range. “Market is picking up slower than expected. Mid-Autumn holiday is approaching, followed by the weeklong National day holiday. Buying interest supposed to be strong at the moment,” a trader said.

In the meantime, the third list of the proposed tariffs by the USA on Chinese imports covered nearly entire plastic end product article, which deeply concerned Chinese converters.