China September LLDPE futures flat on global recession concerns

05 June 2012 11:04  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures were largely unchanged at the close of trade on Tuesday on growing concerns over a possible global economic recession, industry sources said.

September LLDPE futures, which are the most actively traded contracts on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,355/tonne ($1,469/tonne) on 5 June, up by CNY5/tonne from the settlement price of CNY9,350/tonne on 4 June.

Around 1.5m tonnes of LLDPE, or 597,734 contracts, for delivery in September were traded on Friday, according to DCE.

“The market outlook is still unclear amid the current prevailing bearish sentiment,” said a Shanghai-based broker.

He described the slight increase in Tuesday's prices as a "notional correction" after heavy falls in previous trading sessions.

($1 = CNY6.37)

By: Doreen Zhao

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