China’s January LLDPE futures up 2.6% on bullish market sentiment

17 September 2012 10:05  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 2.6% on 17 September, because of the bullish market sentiment, industry sources said on Monday.

The January 2013 LLDPE futures – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 10,980/tonne ($1,735/tonne), up by CNY280/tonne from the previous settlement price.

Around 2.47m tonnes of LLDPE, or 986,082 contracts, for delivery in January 2013 were traded on 17 September, according to DCE data.

Speculation trade increased on 17 September after LLDPE futures rose to the highest level seen on 14 September, according to market players.

($1 = CNY6.33)

By: Amy Yu

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