China LLDPE futures rise 0.2% on increasing crude oil futures

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

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.2%  on Tuesday in tandem with an uptrend in crude oil prices, although the weak downstream sectors continued to weigh on the spot LLDPE market, industry sources said.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,825/tonne ($1,575/tonne), up by 0.2% or CNY20/tonne from the settlement price of CNY9,805/tonne on 19 November.

Around 815,935 tonnes of LLDPE or 326,374 contracts for delivery in May 2013 were traded on Tuesday, according to DCE data.

January NYMEX crude oil futures settled at $89.28/bbl overnight, up by 2.72% on the previous close.

($1 = CNY6.24)

By: Angie Li
+65 6780 4359

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

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index