China LLDPE futures fall 0.86% on weakened investor confidence

25 April 2012 10:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures decreased by 0.86% on 25 April and fewer transactions were done because investor confidence weakened, industry sources said on Wednesday.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,390/tonne ($1,652/tonne) on Wednesday, down by CNY90/tonne from the settlement price of CNY10,480/tonne on 24 April.

Around 1.16m tonnes of LLDPE, or 463,048 contracts, for delivery in September were traded on 25 April, a decrease of 36.2% compared with 24 April, according to DCE data.

The weak demand in the physical polyethylene (PE) market weakened investor confidence and that led to the weakening of LLDPE futures, said Zeng Feng, an analyst at Jinrui futures.

($1 = CNY6.29)

By: Amy Yu

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index

Related Articles