China Morning Snapshot - 31 October 2018

Dalian Commodity Exchange poses slight rebound trend throughout the morning session. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses reduced 25,000 tons from yesterday at 740,000 tons as on 31 October 2018.

Overall market sentiment is slightly better than yesterday with more buyers asking for offer level after seeing rebound trend of futures market. However, overall deals concluded are still not encouraging whereby some traders are still expecting for further discounts in order to entice sales. Players are mostly on the cautious stance waiting for new offer levels in November.