China’s LLDPE futures down by 1.30% on lower spot prices

24 September 2012 11:09  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 1.30% on Monday because of softer spot prices, industry sources said.

Traders’ domestic LLDPE offers fell by yuan (CNY) 50/tonne ($7.92/tonne) at the high end of the range on 21 September to CNY11,000-11450/tonne EXWH (ex-warehouse) on Monday, according to the data from Chemease, an ICIS service in China

Some distributors said they were concerned over the possibility of LLDPE spot prices falling in the coming days after recent sharp gains and the settled price of Sinopec Exploration Southern fell by CNY200/tonne in the morning.

January 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at CNY10,645/tonne, down by CNY140/tonne from the previous settlement on 21 September.

Around 1.05m tonnes of LLDPE, or 418,876 contracts, were traded for delivery in January 2013, according to the DCE data.

($1 = CNY6.31)

By: Angie Li
+65 6780 4359

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