LME plastics: lldPE price continue climb

09 June 2006 13:57  [Source: ICIS news]

LONDON (ICIS news)--Official prices for linear low density polyethylene continued to climb on the London Metals Exchange (LME) on Friday after stalling on Thursday.

LldPE prices rose $10/tonne to $1,250/tonne although PP prices dipped $5/tonne to $1,210/tonne. Prices for both products had held steady on Thursday after rising sharply on Wednesday.

Closing prices for lldPE on Thursday rose $5/tonne to $1,230/tonne, while PP prices were static at $1,200/tonne.

At 17:00 GMT on Thursday, 68 lots of lldPE had traded but no PP was traded. Traders said the market was looking for direction, following a bout of lldPE selling and PP buying last week.

Date:		Contract:
09-Jun-06		lldPE				PP
LME Reference Price		1250				1205
Forward Prices:		Bid		Offer		Bid		Offer
July-06		1240.00		1250.00		1195.00		1205.00
August-06		1232.50		1242.50		1195.00		1205.00
September-06		1220.00		1240.00		1195.00		1205.00

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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