China LLDPE futures down by 4.9% on recession worries

19 September 2011 10:37  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures closed at yuan (CNY) 10,180/tonne ($1,596/tonne) on 19 September, down by 4.9% from the settlement price at CNY10,710 yuan/tonne on 16 September because of recession worries, industry sources said on Monday.

According to the Dalian Commodities Exchange (DCE), 3.19m tonnes of LLDPE, or 1.3m contracts for the material, were traded for delivery in January by the close of trade on 19 September.

“Market players are still worried about the economy, which is under [threat from] the European debt [crisis],” said Shi Minzhu, an analyst from Chinese firm, Nanhua Futures.

“In addition, the demand [for LLDPE] is soft because plastic manufacturers are [experiencing a shortage in] capital,” Shi added.

($1 = CNY6.38)

For more on LLDPE, visit ICIS chemical intelligence
Please visit the complete ICIS plants and projects database
For more pricing intelligence, visit ICIS pricing


By: Amy Yu



AddThis Social Bookmark Button

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.

Printer Friendly

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