01 February 2012 10:06 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures were largely stable under unchanged market conditions, industry sources said on Wednesday.
China’s May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,240/tonne ($1,623/tonne) on Wednesday, slightly down by CNY15/tonne or 0.15% from the settlement price of CNY10,255/tonne on 31 January.
Around 1.28m tonnes of LLDPE, or 513,000 contracts, for delivery in May were traded on Wednesday, according to DCE data.
“Currently market fundamentals are expected to be stable. We are looking forward to the upcoming production peak season in March for the agricultural film industry, which is expected to lead to the start of buying activity for feedstock LLDPE resin this month,” a Shanghai-based trader said.
($1 = CNY6.31)
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