China LLDPE futures gain 1.32% on bullish physical market

03 July 2012 10:41  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.32% on Tuesday, taking the cue from domestic spot market prices, industry sources said.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,980/tonne ($1,572/tonne), up by CNY130/tonne from Monday’s settlement price of CNY9,850/tonne.

Around 3.06m tonnes of LLDPE or 122,576 contracts were traded for delivery in September, according to DCE data.

In the spot LLDPE market, Chinese domestic producers have raised their offers on Tuesday by CNY100-200/tonne to CNY9,750-10,300/tonne ex-warehouse.

($1 = CNY6.35)

By: Lizzie Yu

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