China January LLDPE futures dip 0.14% on oversupply concerns

09 October 2012 11:22  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures slipped by 0.14% on Tuesday on worries over increasing supply of the polymer in October, industry sources said.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,435/tonne ($1,659/tonne), down by CNY15/tonne from the settlement price of CNY10,450/tonne on 8 October.

Around 1.43m tonnes of LLDPE or 573,504 contracts for delivery in January were traded on Tuesday, according to DCE data.

Domestic LLDPE supply is expected to increase following the recent restart of Sinopec SABIC Tianjin Petrochemical’s 300,000 tonne/year plant.

($1 = CNY6.29)

By: Lizzie Yu

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