China's LLDPE futures down by 0.51% on softer crude oil prices

13 November 2012 10:41  [Source: ICIS news]

SINGAPORE (ICIS) -- China’s linear low density polyethylene (LLDPE) futures fell by 0.51% on the back of softer crude oil prices on Tuesday, industry sources said.

NYMEX WTI crude futures dropped by $0.50/bbl overnight to $85.57/bbl, which dampened market sentiment.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,865/tonne ($1,578/tonne), down by CNY50/tonne from the settlement price of CNY9,915/tonne on 12 November.

Around 1.48m tonnes of LLDPE or 579,118 contracts for delivery in May 2013 were traded on Tuesday, according to the DCE data.

($1 = CNY6.25)

By: Rain Dong

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