China LLDPE futures rise 0.3% as market sentiment warms slightly

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

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.3% on Friday as the market sentiment has warmed up slightly, industry sources said.

The change in sentiment is attributed to the easing of short-term bearish factors, such as the ongoing eurozone debt crisis.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange, closed at yuan (CNY) 9,365/tonne ($1,470/tonne) on Friday, up by CNY30/tonne from Thursday’s settlement price of CNY9,335/tonne.

About 2.98m tonnes, or 1.2m contracts, were traded for delivery in May, the data showed.

($1 = CNY6.37)

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By: Amy Yu

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