China September LLDPE futures fall 1.05% on bearish market

11 July 2012 10:40  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 1.05% at the close of trade on Wednesday, weighed down by crude’s heavy falls overnight, industry sources said.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,950/tonne ($1,562/tonne), down by CNY105/tonne from the settlement price of CNY10,055/tonne on 10 July.

Around 1.01m tonnes of LLDPE or 402,296 contracts for delivery in September were traded on Wednesday, DCE data showed.

US crude is currently trading at above $84/bbl levels, recouping about half of the $2/bbl losses made overnight.

($1 = CNY6.37)

By: Rain Dong

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