China LLDPE futures rise 0.97% on upbeat sentiment

15 June 2012 10:43  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures gained 0.97% on Friday on the back of optimistic sentiment ahead of the upcoming election in Greece this weekend, industry sources said.

The rise was also driven by increases in the prices of futures such as rubber and purified terephthalic acid (PTA) futures, an industry source said.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at CNY9,400/tonne ($1,476/tonne) on 15 June, up by CNY90/tonne from the settlement price of CNY9,310/tonne on 14 June.

Around 2.2m tonnes of LLDPE, or 894,248 contracts, for delivery in September were traded on Friday, according to DCE data.

($1 = CNY6.37)

By: Doreen Zhao

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