China LLDPE futures fall by 0.66% on falling crude, lower supply

30 March 2012 11:49  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.66% in line with falling crude oil prices as investors lower their inventory with caution, an industry source said on Friday.

China’s upcoming Qingming Festival has led traders to unload cargoes with caution, the source said.

Nymex crude futures closed at $102.78/bbl on 29 March, down by $2.63/bbl or 2.5% from the previous level.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,615/tonne ($1,685/tonne) on Friday, down by CNY70/tonne from the settlement price at CNY10,685/tonne on 29 March.

Around 1.33m tonnes of LLDPE for delivery in September, or 530,878contracts, were traded on Friday, according to DCE data.

 ($1 = CNY6.30)

By: Rain Dong

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