China’s LLDPE futures fall by 0.85% on weak demand

11 April 2012 12:17  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.85% on 11 April because of weakened demand, industry sources said on Wednesday.

Market players have been pessimistic about China’s economic growth because of recently released economic data, a broker said.

China’s exports and imports posted slower growth rates in March and the slowdown in imports reflects the slowdown in China’s economy,” he added.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,485/tonne ($1,662/tonne) on 11 April, down by CNY90/tonne from the settlement price of CNY10,575/tonne on 10 April.

Around 1.61m tonnes of LLDPE, or 645,878 contracts, for delivery in September were traded on Wednesday, according to the DCE.

($1 = CNY6.31)

 


By: Angie Li
+65 6780 4359



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