China Morning Snapshot - 15 November 2018

Dalian Commodity Exchange poses rebound trend throughout the morning session whereby LL futures poses comparatively stronger trend than PP. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses piled up 10,000 tons from yesterday at 850,000 tons as on 15 November 2018.

Market sentiment showed slight improvements today with rebound trend of futures market, while there are more enquiries from buyers in both domestic and import market, especially for PE, whereby ethylene prices showed slight rebound trend recently, leading players questioning if prices are hitting bottom. Meanwhile, some players are concern over the upcoming Lunar New Year holiday by next year, whereby market might start to slow down nearby mid of January period.