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

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