China Morning Snapshot - 21 November 2018

Dalian Commodity Exchange plunged steeply during the first half of the trading day, which is very much in line with the crash in the global equity market. 

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 to 800,000 tons as on 21 November 2018.

The steep reduction in the energy complex and Dalian Commodity Exchange hampered the sentiment in the spot market throughout the morning session. Sources reported better transaction for LLDPE than homo-PP though the overall condition is rather calm. LThe local homo-PP market starts seeing larger correction today.