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.
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)
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