China’s January LLDPE futures fall by 3% on weaker crude prices

08 October 2012 09:14  [Source: ICIS news]

(Recasts lead for clarity)

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 3% on Monday following sharp falls in crude oil prices on 5 October, industry sources said.

Crude futures fell sharply on Friday, with NYMEX WTI crude futures closed at $89.88/bbl on 5 October, down by $1.83/bbl from 4 October.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,345/tonne ($1,637/tonne), down by CNY320/tonne from the previous settlement price of CNY10,665/tonne on 29 September.

Around 0.82m tonnes of LLDPE, or 326,746 contracts, were traded for delivery in January, according to the DCE data.

($1 = CNY6.32)

By: Doreen Zhao

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