China Morning Snapshot - 11 September 2018

Dalian Commodity Exchange highly fluctuated during the early trading hours today but managed to enter the green zone by the break-time. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses reduced 25,000 tons from the previous trading day to 770,000 tons as on 11 September 2018. (Correction: total inventories were at 795,000 tons on 10 September 2018)

Domestic spot market remains relatively stable day-on-day, though purchasing activities have not seen any significant pick-up. Traders are patiently waiting for the pre-holiday replenishment activities to take place.

“We do not see the ample availability of LLDPE film in the local market. Agricultural film manufacturers are steadily ramping up operation rate, and we do hope such emergence would drive demand better,” a trader said.