LME plastics: Futures prices mark time

08 June 2006 13:50  [Source: ICIS news]

LONDON (ICIS news)--The plastics futures market paused for breath on Thursday, with official prices for both linear low density polyethylene and polypropylene remaining unchanged following strong rises yesterday.

LldPE stayed at $1,240/tonne while PP was anchored at $1,210/tonne.

There was no change, either, in prices for August and September for PP but the September lldPE bid/offer range rose to $1,235/1,255 from $1207.50/1,227 a tonne. August lldPE prices were up $12.5/tonne.

The robust $25-30 rises in official prices on Wednesday were not mirrored in closing levels yesterday, although the upward trend continued. LldPE closed up $5 at $1,225/tonne and PP rose $15 at $1,200/tonne.

There was no trading in lldPE on Wednesday but a relatively high 60 lots of PP had changed hands by the close at 17:00 GMT. Each lot is 24.75 tonne.

Date:		Contract:
08-Jun-06		lldPE				PP
LME Reference Price		1240				1210
Forward Prices:		Bid		Offer		Bid		Offer
July-06		1220		1240		1190		1210
August-06		1227.50		1247.50		1190		1210
September-06		1235		1255		1190		1210

The LME official or reference prices are the offer prices for the first forward delivery month - in this case July 2006. Bid/offer prices are given in the table above for three forward months.

Prices shown are per tonne on an FOT (free on truck) basis delivered Rotterdam/Antwerp, Singapore and Houston.

By: Staff Reporter
+44 20 8652 3214

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