China May LLDPE futures increase by 0.30% on firmer prices

19 January 2012 09:51  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.30% on 19 January in line with the increasing LLDPE prices, industry sources said on Thursday.

The LLDPE prices firmed by 0.26% from levels seen on 18 January, in line with producers’ higher ex-factory prices, according to data from Chemease, an ICIS service in China.

The LLDPE prices were assessed at yuan (CNY) 9,450-9,750/tonne ($1,498-1,545/tonne), up from CNY9,400-9,750/tonne on 18 January, the data showed.

This is despite crude oil prices softening by 1.29% on 17 January, the data showed.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at CNY9,985/tonne on 19 January, up by CNY30/tonne from the settlement price at CNY9,955/tonne on 18 January.

Around 1.4m tonnes of LLDPE, or 540,948 contracts, for delivery in May were traded on 19 January, according to DCE data.

($1 = CNY6.31)

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By: Angie Li
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