China May LLDPE futures flat on lacklustre trade

13 January 2012 09:25  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures barely moved on Friday, continuing a limited movement this week, with most buyers staying out of the market in the weeks leading to the Lunar New Year holiday, industry sources said.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,780/tonne ($1,547/tonne) on Friday, up by CNY10/tonne or 0.1% from the settlement price of CNY9,770/tonne on 12 January.

Around 1.45m tonnes of LLDPE, or 580,928 contracts, for delivery in May were traded on Friday, according to DCE data.

The Chinese market will be closed on 22-28 January for the Lunar New Year festivities.

($1 = CNY6.32)

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections

By: Amy Yu

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