China Morning Snapshot - 17 October 2018

Dalian Commodity Exchange has not made any major come back as the week proceeds. Both PP and LLDPE contracts continue trading in the red zone throughout today’s morning session. 

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

Total inventories at Sinopec and CNPC’s warehouses only digested 5,000 tons from the previous trading day at 755,000 tons as on 17 October 2018.

Spot sentiment remains quiet and even with the discount schemes; traders are finding it tougher to generate satisfactory sales results. In the same time, local producers have not expressed any intention to cut prices drastically given the low inventories on hand. 

“Converters in the greenhouse film sector are running at the full rate to meet peak demand season in November. We remain optimistic about the near-term outlook,” a supplier informed.