31 August 2011 12:47 [Source: ICIS news]
SINGAPORE (ICIS)--Linear low density polyethylene (LLDPE) futures on the Dalian Commodity Exchange (DCE) in ?xml:namespace>
The most actively traded January contract closed at yuan (CNY) 11,065/tonne ($1,734/tonne) on Wednesday, up CNY25/tonne or 0.22% higher from Tuesday’s settlement, DCE data showed.
About 1.04m tonnes of LLDPE or 416,612 contracts for January delivery were traded, according to DCE data.
Further price increases in the futures contracts are limited, with not much transaction going on in the physical PE market, according to Chinese brokers.
“Although crude futures have gained by $3/bbl compared to last week, the [LLDPE] futures contracts did not jump in tandem, but barely inched up by CNY175/tonne [this week]. The lacklustre physical market is dampening the futures [market],” a Shanghai-based broker said.
“The plastics consumption atmosphere [in
($1 = CNY6.38)
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