China LLDPE futures down by 0.44% on softer crude oil prices

22 October 2012 10:55  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.44% on the back of softer crude oil prices on Monday, industry sources said.

NYMEX WTI crude futures dropped by $2.05/bbl to $90.05/bbl on Monday overnight, which dampened market sentiment. However, the downside was limited by LLDPE demand from downstream agricultural film sector, a market source said.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,215/tonne ($1,634/tonne), down by CNY45/tonne from the settlement price of CNY10,260/tonne on 19 October.

About 678,955 tonnes of LLDPE for delivery in January 2013 were traded on Monday, according to DCE.

($1 = CNY6.25)

By: Angie Li
+65 6780 4359

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