China spot domestic LLDPE falls on panic-selling ahead of holidays

26 September 2012 11:39  [Source: ICIS news]

SHANGHAI (ICIS)--Domestic spot prices of linear low density polyethylene (LLDPE) in China fell by an average of 2% on Wednesday, as concerns about oversupply in the upcoming holidays triggered panic-selling, industry sources said.

Locally produced LLDPE was selling at CNY10,850-11,100/tonne ($1,719-1,759/tonne) EXWH (ex-warehouse) on Wednesday, down by CNY225/tonne from the previous day, according to Chemease, an ICIS service in China.

The Chinese market will be closed from 30 September to 7 October for the Mid-Autumn festival and National Day celebration, while LLDPE plants are expected to run normally during the holidays, industry sources said.

($1 = CNY6.31)

By: Rain Dong

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