China Morning Snapshot - 14 September 2018

Futures market managed to retain the firmness on the final trading day of the week, which supports the spot market in the domestic ground. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses digested 20,000 tons from the previous day to 700,000 tons as on 14 September 2018.

Trading activities in the local market are steady, sources said, with inquiries for PP are apparently better than PE. “The thing is that we could only achieve deals at stable price. Customers just would not accept any hike, even the minor one,” a trader informed. 

Players signal that this could be the start of the pre-holiday replenishment and expected local homo-PP market to jump in the coming days as a result.