China Morning Snapshot - 07 September 2018

The Dalian Commodity Exchange managed to retain the firmness by the end of the morning session though significantly lower than the earlier hours. 

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

Total inventories at Sinopec and CNPC’s warehouses reduced 25,000 tons from yesterday to 740,000 tons as on 07 September 2018. 

Transactions for domestic cargoes are stable, sources said; but still below expectation, as the market is normally stronger at this time of the year. Concern over the third round of USA tariffs on Chinese imports continues to concern players as many converters are seeing a drastic drop in export orders.