China LLDPE futures fall by 1.3% on weak fundamentals

07 November 2011 09:29  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures traded on the Dalian Commodity Exchange (DCE) closed at yuan (CNY) 9,610/tonne ($1,516/tonne) on Monday, down by CNY130/tonne from Friday’s settlement price of CNY9,740/tonne, because of the weak macroeconomic outlook.

According to the DCE’s data, 2.88m tonnes of LLDPE, or 1,152,192 contracts, were traded for delivery in January by 15:00 hours Dalian time on Monday.

LLDPE futures will continue to fluctuate because many participants have lost confidence, said Hu Zhenglong an analyst with GuangFa Futures.

($1 = CNY6.34)

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By: Amy Yu

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