11 January 2012 09:36 [Source: ICIS news]
May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,755/tonne ($1,546/tonne) on Wednesday, down by CNY5/tonne or 0.05% from the settlement price of CNY9,760/tonne on 10 January.
The Chinese market will be closed on 22-28 January for the Lunar New Year celebration.
LLDPE futures prices are currently being supported by strong crude prices despite the subdued domestic demand, said a Zhejiang-based trader. US crude futures were trading at above $102/bbl on Wednesday afternoon.
($1 = CNY6.31)
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