China LLDPE futures fall 0.77% on unclear economic prospects

06 December 2011 09:46  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.77% on Tuesday as uncertainty over the global economic prospects weighed on market sentiment, industry sources said.

May LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,670/tonne on Tuesday, down by CNY75/tonne from Monday’s settlement price of CNY9,745/tonne.

About 2.19m tonnes of LLDPE, or 879,076 May contracts for delivery, were traded, the data showed.

Given current weak market fundamentals, LLDPE prices are still expected to fluctuate in a narrow range, said by Li Zhoulei, an analyst at brokerage Shanghai CIFCO Futures.

($1 = CNY6.34)

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By: Amy Yu

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