China futures: Dalian Jan LLDPE up on lower vol

28 December 2007 09:09  [Source: ICIS news]

SINGAPORE (ICIS news)--China linear low density polyethylene (LLDPE) futures for January closed yuan (CNY) 50/tonne ($6.8/tonne) higher amid lower volume on Friday from a week ago on expected tight supply.

Two key suppliers have indicated that they would cut exports to China in January, traders said.

The exchange’s January 2008 LLDPE contract closed the week at CNY13,355/tonne, with 132 contracts, or around 330 tonnes of material, traded down from over 700 lots last week.

February futures rose CNY110/tonne to CNY13,560/tonne on low trading volume. Most of the trades were done for May futures which rose CNY105/tonne to CNY13,660/tonne this week from a week ago.

In the physical market, imported LLDPE prices rose in southern China on tight supply, but fell in the eastern area due to more availability, local traders said. 

Spot prices on Friday were at CNY13,300-14,100/tonne ex-warehouse compared with CNY13,350-14,050/tonne a week ago.

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

Jan 2008

13,350

13,365

13,350

13,365

13,355

132

Feb 2008

13,500

13,670

13,300

13,670

13,560

10

March 2008

-

-

-

13,510

13,510

0

April 2008

-

-

-

12,945

12,945

0

May 2008

13,690

13,695

13,635

13,665

13,660

4,614

June 2008

-

-

-

12,505

12,505

0

July 2008

-

-

-

12,980

12,980

0

August 2008

-

-

-

14,200

14,200

0

Sept 2008

-

-

-

14,075

14,075

0

October 2008

11,990

11,990

11,990

11,990

11,990

6

Nov 2008

-

-

-

13,700

13,700

0

Dec 2008

-

-

-

13,810

13,810

0

Total

 

 

 

 

 

4,762

($1 = CNY7.32)


By: Florence Tan
+65 6780 4359



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