China LLDPE futures fall by 0.1% on fewer transacted volumes

08 December 2011 09:47  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.1% on 8 December because fewer volumes were transacted, industry sources said on Thursday.

May 2012 LLDPE futures, which are the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,710/tonne ($1,524/tonne) on 8 December, down by CNY10/tonne from the settlement price at CNY9,720/tonne on 7 December.

About 2.67m tonnes of LLDPE or 1.07m contracts, were traded on 8 December, which is a decrease of 7% compared with that on 7 December, according to DCE data.

Many players have retreated to the sidelines because they are waiting for a clearer market direction following a central economy meeting by China’s Communist Party on 12 December, said Shanghai CIFCO Futures analyst, Li Zhoulei.

($1 = CNY6.37)

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By: Amy Yu

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