16 September 2009 09:00 [Source: ICIS news]
SINGAPORE (ICIS news)--The first-ever polyvinyl chloride (PVC) futures contract in China expired this week at volumes of 92,180 tonnes – a record for a debutant at the Dalian Commodity Exchange (DCE), industry sources said on Wednesday.
The September PVC futures contract expired on Monday with a settlement price of yuan (CNY) 6,735/tonne ($986.09/tonne). The contract was launched in late May this year.
Six other commodities are traded on the DCE, including another polymer - linear low dendity polyethylene (LLDPE).
The first LLDPE contract only managed to generate volumes of 745 tonnes upon expiration on October 2007, based on DCE data.<>>
PVC sellers and suppliers may opt to make actual physical delivery rather than do cash settlement on their futures contracts given current weak demand for the material, some market players suggested.
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