China May LLDPE futures up by 1.06% on firm crude oil prices

02 March 2012 09:46  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures have risen by 1.06% on 2 March in line with firmer crude oil prices, an industry source said on Friday.

Brent crude oil price closed on 1 March higher by 2.89% from 29 February.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,525/tonne ($1,671/tonne) on 2 March, up by CNY110/tonne from the settlement price at CNY10,415/tonne on 1 March.

Around 1.58m tonnes of LLDPE, or 633,646 contracts, for delivery in May were traded, according to the DCE data.

($1 = CNY6.30)

By: Lizzie Yu

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