02 November 2011 09:24 [Source: ICIS news]
January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,660/tonne ($1,519/tonne), up by CNY215/tonne from Tuesday’s settlement price.
However, the production cuts at Sinopec’s crackers did not push prices significantly higher in the physical LLDPE market, as players’ main concern is the ongoing eurozone debt crisis, a local PE trader said.
LLDPE was selling at CNY9,400-9,850/tonne EXWH (ex-warehouse) in
($1 = CNY6.36)
Additional reporting by Yu Jiao Jiao, Angie Li, Dong Yu Ling
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