LME Plastics: Asia LLDPE contracts gain $90

14 December 2007 15:29  [Source: ICIS news]

LONDON (ICIS news)--Linear low density polyethylene (LLDPE) prices surged week-on-week on the London Metel Exchange (LME), with all Asia contracts gaining $95, North America prices up $20 and global contracts $15 higher than last Friday.

 

The $95 leap saw Asia LLDPE contracts move higher than Europe for the first time since the regional figures were introduced in June 2007.

 

North America polypropylene (PP) booked a more modest $5 gain across all three contracts, while Europe December and January PP contracts dropped $10 and $20 respectively.

 

On Thursday, the LME said it planned to align its plastics futures contracts with the model it uses for its more successful metals contracts to attract more participants to the market.

 

The exchange’s regional and global plastics contracts would be changed from free on truck (FOT) to the in-warehouse basis used for its non-ferrous metals.

 

Plastics futures prices from the London Metal Exchange are given in the table below. Further details and comparisons with price data published earlier are available directly from the exchange. The LME site requires free user log-in.

 

LME Plastics: prices

 

Date:

Dec 14

 

 

 

 

PP

 

 

 

$ per tonne

Global

Asia

Europe

North America

Cash (B)

1,360

1,370

1,570

1,440

Cash (S)

1,375

1,380

1,590

1,470

Dec (B)

1,360

1,370

1,570

1,440

Dec (S)

1,375

1,380

1,590

1,470

Jan (B)

1,360

1,370

1,570

1,440

Jan (S)

1,375

1,380

1,590

1,470

 

 

 

 

 

 

LLDPE

 

 

 

 

Global

Asia

Europe

North America

Cash (B)

1,355

1,475

1,470

1,355

Cash (S)

1,375

1,495

1,490

1,375

Dec (B)

1,355

1,475

1,470

1,355

Dec (S)

1,375

1,495

1,490

1,375

Jan (B)

1,355

1,475

1,470

1,355

Jan (S)

1,375

1,495

1,490

1,375

 

B = Buyers

S = Sellers

 

European olefins producers were bullish on first-quarter contracts, repeating on Friday the need for big increases of about €80-90/tonne ($118-132/tonne) to avoid negative margins heading into 2008.

 

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.

 

Basell, National Gas Co of Trinidad and Tobago and National Energy Corp of Trinidad and Tobago will build a 450,000 tonne/year polypropylene (PP) plant in the Caribbean state.


By: Staff Reporter
+44 20 8652 3214



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