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Dalian Commodity Exchange continues enjoying the support from the depreciation of the Chinese Yuan, which elevate local prices, sources said. Spot homo-PP and LLDPE film are joining the ride, too.

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

Total inventories at Sinopec and CNPC’s warehouses dropped 20,000 tons from the previous trading day to 670,000 tons as of 25 July 2018.

From trade war to currency war, China export market supposed to be strong given the steep depreciation of the Yuan that makes Chinese produced goods more competitive. However, many converters, especially those whom in the PP sector are not being able to accommodate rising local prices citing slower than expected end product demand. Near-term outlook appears to be brighter for PE sector, sources added.