China September LLDPE futures dip 0.60% on falling crude

14 May 2012 11:19  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.60% on Monday, in line with declines in crude prices amid concerns over the global economic health, industry sources said.

September LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,860/tonne ($1,563/tonne) on Monday, down by CNY60/tonne from the settlement price at CNY9,920/tonne on 11 May.

Around 1.7m tonnes of LLDPE, or 669,178 contracts, for delivery in September were traded on Monday, according to the data.

Crude futures sharply fell on Monday afternoon, down by more than $2/bbl, on concerns over demand and the eurozone debt crisis.

($1 = CNY6.31)

By: Rain Dong

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