China’s LLDPE futures down by 0.65% on bearish sentiment

25 September 2012 11:00  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.65% on Tuesday because of the sentiment that global economic growth is slowing down, industry sources said.

Meanwhile, along with the fading effects of the third quantitative easing measures (QE3) announced by the US Federal Reserve, NYMEX WTI crude futures fell by 0.96 cents to $91.93/bbl on Monday overnight. The news also weakened the confidence of market players, the source added.

January 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,635/tonne ($1,685/tonne), down by CNY50/tonne from the previous settlement on 24 September.

Around 0.97m tonnes of LLDPE, or 389,276 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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