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By the end of today’s morning session, sentiment on Dalian Commodity Exchange started to wean. September delivery contract for both PP and LLDPE inched lower, however, spot market remains relatively stable as producers claimed lacking inventories pressure.  

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

Total inventories at Sinopec and CNPC’s warehouses reduced 20,000 tons from yesterday to 650,000 tons as of 26 July 2018.

Players are mostly in the wait-and-see position while suppliers are hoping that the futures market would soon revive from today’s weakness. “We plan to monitor further development before making any adjustment. Customers are very cautious, especially those from the PP sector,” a trader informed.