China May LLDPE futures up by 0.23% on market improvement

05 April 2012 10:47  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.23% on 5 April, rebounding from an earlier decline on the back of a fall in crude futures, industry sources said on Thursday.

LLDPE futures plunged in the morning, following a 2.02% overnight fall in Brent crude oil prices from 3 April.

During afternoon trade, LLDPE futures rose in line with the general uptick in the stock market in China.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,670/tonne ($1,691/tonne) on 5 April, up by CNY25/tonne from the settlement price of CNY10,645/tonne on 4 April.

Around 1.61m tonnes of LLDPE, or 645,872 contracts, were traded for delivery in September, according to DCE data.

($1 = CNY6.31)

By: Lizzie Yu

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