China Morning Snapshot - 22 October 2018

There has not been any major movement on Dalian Commodity Exchange this morning and players are on the wait-and-see position for clearer direction. 

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

Total inventories at Sinopec and CNPC’s warehouses piled up 70,000 tons from last Friday at 845,000 tons as on 22 October 2018.

Despite the calm sentiment in the local homo-PP market, sources believed that prices are entering the stabilizing condition given the firm stance from suppliers. “We have not made any price adjustment to have a clearer view of the market trend first,” a trader informed.

In the same time, inquiries for LLDPE film among agricultural film converters in Northern China area are steady, traders said.