China LLDPE futures rise 0.33% on firmer crude prices

28 September 2012 10:22  [Source: ICIS news]

SINGAPORE (ICIS)--Chinas linear low density polyethylene (LLDPE) futures continued to inch up on Friday on the back of rising crude prices, but the weakness in the global economy still weighed on market sentiment, industry sources said.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,625/tonne ($1,687/tonne), up by 0.33% or CNY35/tonne from Thursday’s settlement price of CNY10,590/tonne.

Around 441,435 tonnes of LLDPE or 176,574 contracts for delivery in January 2013 were traded on Friday, according to DCE data.

At 17:17 Singapore time (09:17 GMT), Brent crude was up $1.21/bbl at $113.22/bbl, while US crude gained 76 cents at $92.61/bbl.

($1 = CNY6.30 / $1 = €0.77)

By: Angie Li
+65 6780 4359

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