China Morning Snapshot - 22 November 2018

Dalian Commodity Exchangestabilizeslightly this morning, however, the gains are just too insignificant to support the spot market. 

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

Total inventories at Sinopec and CNPC’s warehouses unchanged from the previous trading day at 800,000 tons as on 22 November 2018.

Buyers continue to place new inquiries modestly in hope that more price cuts would emerge in the near term. Traders are showing disappointment with the sales results despite the heavy effort in reducing offers, especially for homo-PP.