China’s May ’13 LLDPE futures largely flat on uncertain sentiment

08 November 2012 08:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures remain largely stable because market sentiment remains uncertain, industry sources said on Thursday.

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)

By: Doreen Zhao

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly