China LLDPE futures rise 1.22% on higher spot material prices

29 May 2012 09:53  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.22% on Tuesday, influenced by gains in the spot physical market, industry sources said.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,950/tonne ($1,569/tonne), up by CNY120/tonne from the previous settlement price of CNY9,830/tonne on 28 May.

Around 940,000 tonnes of LLDPE, or 377,036 contracts, for delivery in September were traded on Tuesday, according to the DCE data.

Domestic suppliers of LLDPE in the Chinese spot market have raised their offers to CNY10,000/tonne on Tuesday, up by CNY200/tonne from Monday’s levels, market sources said.

($1 = CNY6.34)

By: Summer Zhang

AddThis Social Bookmark Button

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

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index