China’s May LLDPE futures up 0.2% on stronger market sentiment

05 November 2012 09:20  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 0.2% on 5 November as the market sentiment has strengthened slightly, industry sources said.

The change in sentiment is attributed to the rising offers by the local producers in the physical polyethylene (PE) market.

Key local producers raised their offers for LLDPE to yuan (CNY) 10,550-10,750/tonne ($1,688-1,720/tonne) EXW (ex-works) on Monday, CNY100-150/tonne higher from 2 November, according to Chemease, an ICIS service in China.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at CNY9,960/tonne, down by CNY20/tonne from the settlement price of CNY9,940/tonne on 2 November.

Around 1.39m tonnes of LLDPE or 557,412 contracts for delivery in May 2013 were traded on Monday, according to DCE data.

($1 = CNY6.25)

By: Amy Yu

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