China LLDPE futures gain 1.3% as crude hovers above $93/bbl

28 October 2011 10:15  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures closed 1.3% higher on Friday, buoyed by crude’s strong gains overnight.

January LLDPE, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at (yuan) CNY 9,545/tonne ($1,501/tonne), up CNY120/tonne from Thursday’s settlement price.

US crude for December delivery remained trading at above $93/bbl on Friday.

Some 2.74m tonnes of LLDPE, or 1.10m contracts for January delivery, were traded at the close of trade on Friday.

($1 = CNY6.36)

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By: Amy Yu

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