China LLDPE futures decreased 0.29% on falling crude oil price

13 September 2012 10:42  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures were down by 0.29% on Thursday on the back of falling crude price, industry sources said.

January 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,365/tonne ($1,637/tonne), dropped by CNY30/tonne from the previous settlement price of CNY10,395/tonne on 12 September.

Around 0.58m tonnes of LLDPE, or 232,184 contracts, were traded for delivery in January 2013, according to the DCE data.

The price of October NYMEX crude oil futures closed at $97.01/bbl on 12 September, down by 0.16% from the price on 11 September, following an increase in the US crude oil inventories.  

The US crude oil inventories rose by 1.99m bbl to 359.09m bbl, the US Energy Information Administration (EIA) said on Wednesday, against expectations that stockpiles would fall by 2.6m bbl.

($1 = CNY6.33)

By: Summer Zhang

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