China Morning Snapshot – 25 October 2019

Dalian Commodity Exchange for futures PP and PE opened with firmer note, however retreated toward the end of the 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 670,000 tons as 25 October 2019.

Market sentiment is slow approaching weekend, while most of the needed cargoes have been purchased by buyers on past few days. Players are expecting continuous range bound trend for local offers, as the inventory pressure among local producers are still low. Some traders informed that after some purchases for imported PE past two days, they will remain cautious to monitor for further market movements again.