24 September 2009 12:38 [Source: ICIS news]
SINGAPORE (ICIS news)--China linear low density polyethylene (LLDPE) and polyvinyl chloride (PVC) futures traded as much as 2% lower on Thursday due to sharply lower overnight crude values and weak demand in the physical markets, industry sources said.
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The November PVC contract fell by 2% to close at yuan (CNY) 6,520/tonne ($955/tonne), according to data from the Dalian Commodity Exchange (DCE).
The November LLDPE contract closed at CNY9,630/tonne, which was down by CNY180/tonne, or 1.8%, from the previous day’s settlement price, according to DCE data.
Falling import prices and the domestic physical market further dampened sentiment in the LLDPE futures trade, futures brokers said.
On 23 September, local major PetroChina dropped its LLDPE offers in eastern and northeast
Imported LLDPE was assessed at $1,170-1,230/tonne CFR (cost and freight)
($1 = CNY6.83)
Additional reporting by Ng Hun WeiFor more on polyethylene and PVC, visit ICIS chemical intelligence
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