China Morning Snapshot - 20 July 2018

Dalian Commodity Exchange opened with a weak note but managed to recover 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 remained unchanged from the previous trading day at 680,000 tons as on 20 July 2018.

Suppliers reported seeing better sentiment in the spot ground on the final trading day of the week, however, converters are still having only small appetite. “Our customers do not seem to have the urge to increase the purchased quantity despite the depreciation of the Chinese Yuan that lifts the risk of higher prices in the coming days,” a trader said.