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