China Morning Snapshot - 01 November 2018

Dalian Commodity Exchange poses soft 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 piled up 20,000 tons from yesterday at 760,000 tons as on 01 November 2018.

Market sentiment is slow this morning whereby buyers are mostly on the wait and see stance while overall deals concluded are limited. Some traders are doubting if prices are nearing the bottom, meanwhile mostly preferred to stay cautious for these few days.