China’s LLDPE futures fall 3.4% on Fushun Petchem’s new PE/PP plant

29 October 2012 10:36  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 3.4%, because supply is expected to increase with the start-up of Fushun Petrochemical’s PE/PP plants, industry sources said on Monday.

Fushun Petrochemical has been conducting trial runs at both its new 350,000 tonne/year high density polyethylene (HDPE) unit and 450,000 tonne/year HDPE/LLDPE unit. 

The Chinese producer was heard to have started up its new cracker successfully on 25 October and is producing off-spec material now.

January 2013 LLDPE futures – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 9,955/tonne ($1,580/tonne), a decline from the previous settlement price of CNY10,310/tonne.

Around 2.18m tonnes of LLDPE, or 872,456 contracts, for delivery in January 2013 were traded on Monday, according to the DCE data.

($1 = CNY6.26)

By: Summer Zhang

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