China LLDPE futures up 0.29% on hopes of better demand in March

29 February 2012 09:59  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 0.29% on Wednesday on expectations that downstream demand will improve in March, industry sources said.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,385/tonne ($1,648/tonne) on Wednesday, up by CNY30/tonne from the settlement price of CNY10,355/tonne on 28 February.

Around 820,000 tonnes of LLDPE, or 326,608 contracts, for delivery in May were traded on Wednesday, according to DCE data.

Demand for agriculture films, in which LLDPE is used in production, is expected to start picking up next month, market players said.

($1 = CNY6.30)


By: Amy Yu



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