China LLDPE futures dip 0.48% on weak crude, bearish outlook

04 May 2012 10:30  [Source: ICIS news]

SINGAPORE (ICIS)--China’s liner low density polyethylene (LLDPE) futures slipped by 0.48% on Friday, in line with declining crude oil prices amid lingering concerns over the global economic health, industry sources said.

September LLDPE futures, which are the most actively traded contracts on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,310/tonne ($1,636/tonne) on 4 May, down by CNY50/tonne from Thursday's settlement price of CNY10,360/tonne, DCE data showed.

Around 820,000 tonnes of LLDPE, or 327,656 contracts, were traded for delivery in September, according to the data.

At 17:23 Singapore time (10:23 GMT), US crude was down by 96 US cents at $101.58/bbl, while Brent crude fell 85 cents to $115.23/bbl.

($1 = CNY6.30)


By: Doreen Zhao



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