21 October 2009 11:35 [Source: ICIS news]
SINGAPORE (ICIS news)--China’s linear low density polyethylene (LLDPE) and polyvinyl chloride (PVC) futures traded 0.8-2.0% lower on Wednesday as market players took cues from sluggish demand in the physical markets as well as softer crude values.
The January LLDPE contract shed yuan (CNY) 80/tonne to close at CNY10,425/tonne ($1,526/tonne), 0.8% lower than the 20 October settlement price, according to data from the Dalian Commodity Exchange (DCE).
The January PVC contract lost 2.0% from the previous settlement level to close at CNY6,740/tonne.
Crude futures, meanwhile, continued to weaken on Wednesday afternoon, losing 84 cents to $78.28/bbl following a larger-than-expected rise in crude stocks in the ?xml:namespace>
Softer crude values, coupled with sluggish physical demand, convinced buyers in stay on the sidelines of the paper market for now, a PVC trader said.
($1 = CNY6.83)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections