China's LLDPE futures plunge 2.2% on dip in crude oil prices
07 May 2012 11:14 [Source: ICIS news]
SINGAPORE (ICIS)--China’s liner low density polyethylene (LLDPE) futures plunged by 2.2% on Monday on the back of fall in crude oil prices, industry sources said.
September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,055/tonne ($1,599/tonne) on 7 May, down by CNY230/tonne from the settlement price of CNY10,285/tonne on 4 May, DCE data showed.
Around 1.78m tonnes of LLDPE, or 712,436 contracts, were traded for delivery in September, according to the data.
($1 = CNY6.29)
By: Doreen Zhao
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