China futures: Dalian LLDPE down CNY355/tonne

14 December 2007 13:25  [Source: ICIS news]

SINGAPORE (ICIS news)--Linear low density polyethylene (LLDPE) futures prices in China closed yuan (CNY) 355/tonne ($48.17/tonne) lower on Friday from a week ago, as government plans to further tighten credit controls dampened sentiment in the polymers market.

 

The exchange’s January 2008 LLDPE contract closed the week at CNY13,300/tonne, with 3,312 contracts or around 8,280 tonnes of material traded.

 

March and May futures in 2008 were down CNY280/tonne and CNY240/tonne on 5,376 and 25,284 lots respectively, while August futures were not traded.

 

In the physical market, locally produced LLDPE was trading at CNY13,350-13,950/tonne ex-warehouse in north and east China, CNY100-300/tonne lower compared with last Friday.

 

However, some locally produced material was sold CNY250/tonne higher at 13,600-13,700/tonne ex-warehouse in south China.

 

In the imports market, traders offered Asian and Middle East product at $1,520-1,550/tonne CFR (cost and freight) China this week for December shipment, with buying ideas lagging behind at $1,480-1,500/tonne CFR, which was unchanged from last Friday.

 

Weekly details for Dalian LLDPE contracts are given in the table. Additional data can be found on the exchange’s website.

 

Contract

Open

High

Low

Close

Settle

Volume

Dec 12

-

-

-

12,205

12,205

0

Jan 08

13,560

13,600

13,260

13,290

13,300

3,312

Feb 08

13,600

14,020

13,550

13,550

13,550

14

March 08

13,500

13,700

13,300

13,400

13,400

5,376

April 08

-

-

-

12,945

12,945

0

May 08

13,900

14,000

13,630

13,695

13,710

25,284

June 08

-

-

-

12,505

12,505

0

July 08

-

-

-

12,980

12,980

0

Aug 08

-

-

-

14,200

14,200

0

Sep 08

14,240

14,240

13,700

13,700

13,700

8

Oct 08

-

-

-

12,475

12,475

0

Nov 08

14,450

14,450

14,400

14,400

14,425

4

LLDPE Subtotal

 

 

 

 

 

33,998

Total

 

 

 

 

 

33,998

Price: CNY/tonne

Settlement price = average transacted price for the contract month

The number of contracts reflects both buy and sell deals

 

The Dalian Commodity Exchange (DCE) in northeast China has been trading LLDPE futures contracts since August 2007. Quoted in yuan, a total of 12 monthly contracts are traded. The lot size is 5 tonnes. The last trading day on each contract is the 10th trading day of the delivery month and the last delivery day is the second day after the last trading day of the delivery month. Delivery is through a DCE approved warehouse.

 

($1 = CNY7.37)


By: Chow Bee Lin
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly