China’s LLDPE futures up 1.12% on strong crude oil prices

07 August 2012 09:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.12% on Tuesday, supported by strong crude oil values, industry sources said.

September NYMEX crude oil futures settled at $92.20/bbl overnight, up by 0.88% on the previous close mainly due to geopolitical concerns.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,955/tonne ($1,563/tonne), up by CNY110/tonne from the previous settlement.

Around 1.32m tonnes of LLDPE, or 529,848 contracts, were traded for delivery in January, according to DCE data.

($1 = CNY6.37)

By: Angie Li
+65 6780 4359

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