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



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