China’s May LLDPE futures drop 0.45% on bearish market sentiment

21 November 2012 08:30  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures dropped slightly by 0.45% on Wednesday as market sentiment was weakened by fluctuating crude oil futures, which reduced business visibility, an industry source said.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,795/tonne ($1,570/tonne), down by CNY45/tonne from the settlement price of CNY9,840/tonne on 20 November.

Around 1.71m tonnes of LLDPE, or 683,914 contracts, for delivery in May 2013 were traded on Wednesday, according to DCE data.

January NYMEX crude oil futures settled at $86.75/bbl, down by 2.83% from the previous settlement.

($1 = CNY6.24)

By: Angie Li
+65 6780 4359

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