China Morning Snapshot - 19 November 2018

Dalian Commodity Exchange starts the first trading day of the week on a firm note, however, loses momentum toward the break time.  

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

Total inventories at Sinopec and CNPC’s warehouses piled up 65,000 tons over the weekend to 870,000 tons as on 19 November 2018.

Domestic spot homo-PP market slips below the CNY10,000/ton mark for the first time in weeks. Sources reported that the peak demand season in preparation for Lunar New Year has not emerged and with the current inventories level, it is likely that local suppliers might offer more discounts in the coming days.