LME Plastics: PP loses $10 to $1,310/tonne

09 May 2007 15:42  [Source: ICIS news]

LONDON (ICIS news)--Polypropylene (PP) futures prices fell on the London Metal Exchange on Wednesday with the exchanges official price down $10 at $1,310/tonne.

 

The LME’s official linear low density polyethylene (LLDPE) price was unchanged at $1,185/tonne.

 

The contracts had attracted little interest over the past few trading days. No lots were traded on Tuesday or Friday according to broker reports. The exchange was closed on Monday for a public holiday.

 

The June LLDPE contract had closed up $10 at $1,175/tonne on Tuesday. June PP had closed up $5 at $1,310/tonne.

 

On the cash markets, Chinese domestic PP markets continued to be sluggish after the 1-7 May Labour Day holidays and possible price falls were forecast given producers’ high inventories and slack demand.

 

Date:		Contract:
9 May 2007		LLDPE				PP
LME reference price		1185				1310
Forward prices		Bid		Offer		Bid		Offer
June 2007		1165		1185		1300		1310
July 2007		1165		1185		1300		1310
August 2007		1165		1185		1300		1310

The LME official or reference prices are the offer prices for the first forward delivery month – in this case June 2007. Bid/offer prices are given in the table above for three forward months.

 

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

 

($1 = €0.74)

By: Staff Reporter
+44 20 8652 3214

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