China’s September LLDPE futures up 1.44% on technical rebound

21 May 2012 10:37  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.44% on 21 May because of a technical rebound, industry sources said on Monday.

News that Chinese Premier Wen Jiabao has called for greater efforts to support growth through more monetary fine-tuning and fiscal incentives also lent some support to LLDPE futures, a source said.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,830/tonne ($1,553/tonne) on 21 May, up by CNY140/tonne from the settlement price of CNY9,690/tonne on 18 May.

Around 0.64m tonnes of LLDPE, or 254,506 contracts, were traded for delivery in September, according to DCE data.

($1 = CNY6.33)

By: Angie Li
+65 6780 4359

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