08 November 2012 08:48 [Source: ICIS news]
The May 2013 LLDPE futures – the most actively traded contracts on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 10,025/tonne ($1,604/tonne) on Thursday, down by CNY10/tonne from the settlement price of CNY10, 035/tonne on 7 November.
Around 1.19m tonnes of LLDPE, or 474,970 contracts, for delivery in May were traded on Thursday, according to DCE data.
Crude futures declined on Wednesday, with NYMEX WTI crude futures closing at $84.44/bbl on 7 November, down by $4.27/bbl from 6 November.
Firm spot LLDPE prices have helped support the market, despite the sharp decline in crude futures on Wednesday.
Spot LLDPE prices in the Chinese domestic market were at CNY10, 850-11,200/tonne on Thursday, stable from the previous day.
($1 = CNY6.25)
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