23 November 2012 09:29 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures were rise slightly on Friday from the previous settlement because of the wide gap between LLDPE futures and spot prices, industry sources said.
A yuan (CNY) 828/tonne ($133/tonne) gap between LLDPE futures and the average LLDPE spot price supported the futures price, a source said.
The average LLDPE spot price was at CNY10,708/tonne on 23 November, according to Chemease data.
May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,880/tonne, up by CNY55/tonne, or 0.55%, from the previous settlement on 22 November.
Around 806,735 tonnes of LLDPE, or 322,694 contracts, were traded for delivery in May 2013, according to the DCE data.
($1 = CNY6.24)
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