China’s LLDPE futures drop 1.1% on eurozone debt concerns

29 September 2011 10:56  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 1.1% as market sentiment weakened further amid persistent worries that the eurozone debt crisis will lead to a double-dip recession, market sources said on Thursday.

This was the second consecutive day of declines.

January LLDPE, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,285/tonne ($1,453/tonne) on Thursday, down by CNY105/tonne from Wednesday’s settlement price.

About 3.25m tonnes of LLDPE or 1.30m contracts were traded for January delivery, according to DCE data.

($1 = CNY6.39)

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By: Ong Sheau Ling
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