China Morning Snapshot - 16 November 2018

Dalian Commodity Exchange poses slightly firm stance throughout morning session. Details on the spot and futures prices are shown in the following table:

Total inventories at Sinopec and CNPC’s warehouses reduced 35,000 tons from yesterday at 835,000 tons as on 16 November 2018.

Market sentiment is weaker this morning whereby buyers mostly on the wait and see stance, while some place small orders based on hand to mouth basis to satisfy basic needs. Players are mostly on the cautious stance claiming lower confidence level toward the market outlook especially approaching year end period.