China LLDPE futures up 1.7% on upbeat outlook post-Lunar New Year

20 January 2012 09:06  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 1.65% on Friday on hopes that polymer demand will pick up and push spot prices up after the week-long Lunar New Year holiday

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,135/tonne ($1,604/tonne) on Friday, up by CNY165/tonne from the settlement price of CNY9,970/tonne on Thursday.

Around 1.52m tonnes of LLDPE, or 606,530 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 festivity.

($1 = CNY6.32)

By: Angie Li
+65 6780 4359

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