China LLDPE futures fall 2.5% on weak crude prices

09 December 2011 09:27  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 2.5% on Friday, in line with weaker crude prices, industry sources said.

May LLDPE futures, which are the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,500/tonne ($1,491/tonne), down by CNY240/tonne from Thursday’s settlement price of CNY9,740/tonne.

About 3.14m tonnes of LLDPE, or 1.26m tonnes of May contracts, were traded on Friday, DCE data showed.

Concerns about the eurozone debt crisis continue to hound the equities and commodities markets. At 09:25 GMT, US crude was trading at $97.97/bbl, down by 37 cents from Thursday's close.

In China domestic market, spot prices of LLDPE slipped by CNY50/tonne to CNY9,100-9,400/tonne EXWH (ex-warehouse) on Friday from CNY9,150-9,450/tonne EXWH on Thursday, according to Chemease, an ICIS service in China.

($1 = CNY6.37)

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By: Amy Yu

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