China Morning Snapshot - 26 September 2018

Dalian Commodity Exchange traded at the red zone throughout the morning session today on the fear of another interest rate hike in the USA, which might strengthen the US dollar further.  

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

Total inventories at Sinopec and CNPC’s warehouses digested another 30,000 tons from the previous trading day to 680,000 tons as on 26 September 2018. (Correction: Total inventories on 25 September 2018 was 710,000 tons).

There are some early signs that purchasing interest in local market starts to diminish following days of aggressive replenishment. Traders informed that many converters have already stocked up sufficient inventories and might soon enter the holiday mood. 

“We are pushing out some inventories for end products at discounted prices too. By end of this week, customers would have stopped buying already,” a mulch film maker in Qingzhou informed.