China May LLDPE futures rise 0.31% on firmer crude

19 November 2012 09:03  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures inched up by 0.31% on Monday, on the back of firm crude oil prices, industry sources said.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,830/tonne ($1,575/tonne), up by CNY30/tonne from the settlement price of CNY9,800/tonne on 16 November.

Around 1.02m tonnes of LLDPE or 409,262 contracts for delivery in May 2013 were traded on 19 November, according to the DCE data.

At 16:52 Singapore time (08:52 GMT), US crude was up 95 cents at $87.87/bbl, while Brent crude was trading at $109.75/bbl, up by 80 cents from the previous close.

($1 = CNY6.24)

By: Rain Dong

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