China May LLDPE futures fall 1.6% on bearish sentiment

17 November 2011 08:27  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 1.6% on Thursday because of bearish sentiment due to the ongoing eurozone debt crisis, industry sources said.

May 2012 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,685/tonne ($1,528/tonne) on Thursday, down by CNY160/tonne from the settlement price on 16 November.

This decline was despite the rise in NYMEX light sweet crude (WTI) for December delivery to $102.59/bbl.

About 5.8m tonnes, or 2.32m May contracts, were traded on Thursday, DCE data showed.

($1 = CNY6.34)

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By: Moon Chen
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