LME Plastics: Asia futures climb higher

27 June 2007 15:44  [Source: ICIS news]

LONDON (ICIS news)--Asian polypropylene (PP) and linear low density polyethylene (LLDPE) futures prices rose sharply on the London Metal Exchange on Wednesday and PP prices were higher across the board .

Cash market prices for PP and LLDPE had already risen in the Middle East as buyers reacted to short supplies in the region and feared that supplies would be further restricted in next few weeks.

The LME's evaluated offer price on Asia PP rose $30 to $1,340/tonne while the July Asia contract offer price for LLDPE was  up $20 at $1,290/tonne.

Offer prices for both contracts were still highest in Europe followed by Asia and North America.

Global and Regional PP prices were up across the board. Global LLDPE prices increased as well prices for Asia and North America but European contract prices were lower. 

The LME publishes daily official plastics prices (both bid and offer) for cash, month 1 and month 2 for all its PP and LLDPE contracts. The official prices established are basis open outcry trading at the end of the first plastics Ring trading session of the day held at 12:25 London time. Unitl mid July the LME's Cash plastics contract prices are evaluated.

Delayed plastics contracts prices and trading data are available from the LME.

LME Plastics: evaluated prices, 27 June 2007

($/tonne)	PP Global	PP Asia	PP Europe	PP North America	LLDPE Global	LLDPE Asia	LLDPE Europe	LLDPE North America
Cash Buyer	1,210	1,315	1,530	1,215	1,215	1,290	1,450	1,215
Cash Seller	1,230	1,335	1,570	1,235	1,235	1,310	1,490	1,235
July Buyer	1,210	1,340	1,560	1,215	1,215	1,290	1,450	1,215
July Seller	1,230	1,360	1,600	1,235	1,235	1,310	1,490	1,235
August Buyer	1,210	1,365	1,590	1,215	1,215	1,290	1,450	1,215
August Seller	1,230	1,375	1,630	1,235	1,235	1,310	1,490	1,235

($1 = €0.74)

By: Staff Reporter
+44 20 8652 3214

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