China Morning Snapshot - 27 September 2018

Dalian Commodity Exchange rebounded slightly this morning after a sharp reduction in the previous trading day. Meanwhile, spot prices hold relatively unchanged amid calmer sentiment.

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 650,000 tons as on 27 September 2018. 

Suppliers reported calmer sentiment in the local ground as most buyers have completed the pre-holiday replenishment. The final trading day of the week would become quieter, sources expected given the broadening holiday mood.

“We are still able to conclude some deals this morning, but sales apparently weaker than it was at the beginning of the week. We have been requested to off take additional quantity from major local producers before the weekend,” a trader informed.