China's PE futures slide 5% on double-dip recession fears
05 August 2011 03:31 [Source: ICIS news]
SINGAPORE (ICIS)--Linear low density polyethylene (LLDPE) futures on the Dalian Commodity Exchange (DCE) in
The most actively traded January contract was transacted at yuan (CNY) 11,255/tonne ($1,748/tonne) on Friday morning, down CNY755/tonne or 5% lower from Thursday’s settlement at CNY11,845/tonne, DCE data showed.
According to the DCE’s trading rules, a transaction price established after a 5% fall from the preceding day’s settlement price becomes the floor price, and subsequent offers below this level are not accepted on the same trading day.
Concerns about a second downturn in the world economy led to sharp falls in crude futures and US equities overnight.
($1 = CNY6.44)
By: Chow Bee Lin
+65 6780 4359
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 |
Related Articles
- 10 Aug 11 11:53 China’s LLDPE prices gain 3% on bullish futures market
- 10 Aug 11 10:59 INSIGHT: Prices likely to track down with oil
- 08 Aug 11 11:28 Europe August PE buyers cautious as producers eye increases
- 08 Aug 11 11:04 China’s LLDPE prices fall 1.6% on panic selling
- 08 Aug 11 11:01 China’s Dushanzi Petchem brings forward cracker, PE, PP shutdown
- 05 Aug 11 10:03 Crude futures slump as global recession worries grow
- 05 Aug 11 05:45 Asia petrochemical stocks plummet on fears of another recession
- 22 Jul 11 23:59 Europe July PE and PP contracts down €95–100/tonne
- 11 Jul 11 11:32 China PE, PP trade slows after sharp price increases
- 27 Jun 11 11:32 INSIGHT: Global polyolefin market gives scant reason for optimism
- 03 Jun 11 15:52 INSIGHT: Growing concerns about flat China polyolefins demand
- 22 Mar 11 12:17 China PE sellers use arbitrage to sell material to Europe
Latest News
- 20 Jun 13 05:00 NOON SNAPSHOT - Asia Markets Summary
- 20 Jun 13 04:55 China’s Guizhou Chitianhua starts Chishui site maintenance
- 20 Jun 13 04:51 Major Asian petchem shares down sharply on negative China PMI data
- 20 Jun 13 04:48 China polysilicon prices rising on import penalty tariff hopes
- 20 Jun 13 04:36 Asia EPDM to extend falls on Europe surplus stocks, weak rupee