LME Plastics: Prices stable as trading picks up

31 May 2007 15:07  [Source: ICIS news]

LONDON (ICIS news)--Prices for both high density polyethylene (HDPE) and polypropylene (PP) were stable on the London Metal Exchange (LME) on Thursday, while trading activity picked up.

 

The official HDPE price remained at $1,210/tonne, while PP was stable at $1,200/tonne.

 

The June PP contract closed down $5 at $1,190 on Wednesday, while the LLDPE contract was down $10 at $1,200.

 

According to broker reports, 173 lots of PP were traded on Wednesday and 26 lots of LLDPE.

 

31 May 2007		LLDPE				PP
LME reference price		1210				1200
Forward prices		Bid		Offer		Bid		Offer
June 2007		1190		1210		1180		1200
July 2007		1205		1225		1205		1225
August 2007		1215		1235		1215		1235

 

 

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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