China polymers futures edge down on subdued sentiment

10 September 2009 12:05  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s linear low density polyethylene (LLDPE) and polyvinyl chloride (PVC) futures edged downwards on Thursday, amid thin trades and sluggish demand in the physical market.

November PVC and LLDPE contracts fell by 0.57% to yuan (CNY) 6,930/tonne ($1,015/tonne) and 0.09% to CNY10,455/tonne respectively, according to data from the Dalian Commodity Exchange (DCE), as trading sentiment was dampened slightly by a decline in the Chinese stock exchanges, a local PVC producer said.

Trading volume for November PVC futures fell to 81,348, a 38% decline from Wednesday and the lowest since late July, as market players preferred to stay on the sidelines in the absence of new market developments, the producer added.

China’s main share index, the Shanghai Composite Index, lost 0.7% to close at 2,924.88 points.

($1 = CNY6.83)

With additional reporting by Chow Bee Lin
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By: Ng Hun Wei
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