China LLDPE futures gain 0.90% on low spot inventory

31 October 2012 10:28  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 0.90% on Wednesday as spot inventory of the polymer is low while demand is expected to improve, industry sources said.

January 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,110/tonne ($1,605/tonne), up by CNY90/tonne from Tuesday’s settlement price of CNY10,020/tonne.

Around 313,462 LLDPE contracts for delivery in January 2013 were traded on Wednesday, according to the DCE data.

Demand for LLDPE is expected to be boosted soon as downstream agriculture film sector enters its peak production season, industry sources said.

($1 = CNY6.24)

By: Summer Zhang

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