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Dalian Commodity Exchange makes a surprising come back on the first trading day of the week with September delivery contract for PP gained three digits in values. Such encouraging sentiment on the futures ground casts a positive effect on the domestic spot ground.

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

Purchasing activities among flexible packaging and agricultural film converters remain healthy, even at higher price levels, however, PP market has not shown any major improvement. 

“Most low price cargoes are no longer available in the spot market and we think buyers will have no choice but to accept the latest offers entering August,” a trader commented. 

Total inventories at Sinopec and CNPC’s warehouses piled up 65,000 tons throughout the weekend to 695,000 tons as on 30 July 2018.