China May LLDPE futures dip 0.32% on poor market sentiment

14 December 2011 09:33  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.32% on Wednesday as concerns about a slowing global economy continue to worry market players.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,305/tonne ($1,463/tonne) on Wednesday, down by CNY30/tonne from the settlement price of CNY9,335/tonne on Tuesday.

Around 2.18m tonnes of LLDPE, or 0.87m contracts, were traded for delivery in May, according to the data.

Given current weakness in demand, “the downtrend in futures [prices] perhaps would be much more difficult to be reversed in the short term”, said a Shanghai-based futures broker.

($1 = CNY6.36)

By: Belle Huo

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly