China’s LLDPE futures fall 1.01% on lower crude oil prices

28 August 2012 10:52  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures decreased by 1.01% on Tuesday because of decreasing crude oil prices, industry sources said.

October NYMEX crude oil futures were at $95.47/bbl on 27 August, down by 68 cents from the previous close.

The January 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,910/tonne ($1,558/tonne), down by CNY100/tonne from the settlement price of CNY10,010/tonne on 27 August.

Around 1.86m tonnes of LLDPE, or 742,760 contracts, for delivery in January were traded on 28 August, according to the DCE data.

($1 = CNY6.36)

By: Rain Dong

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