China May ’13 LLDPE futures up 0.15% on rising spot prices

29 November 2012 09:12  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures inched up by 0.15% on Thursday, backed by increasing spot prices, industry sources said.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,935/tonne ($1,597/tonne), up by CNY15/tonne from Wednesday’s settlement price of CNY9,920/tonne.

Around 1.32m tonnes of LLDPE or 527,174 contracts for delivery in May 2013 were traded on Thursday, according to the DCE data.

Spot LLDPE across the domestic market increased by CNY50/tonne on Thursday from the previous close – to CNY10,750-11,000/tonne in east China;  CNY10,650-10,750/tonne in the southern region; and CNY10,650-10,850/tonne in the northern region – according to Chemease, an ICIS service in China.

($1 = CNY6.22)

By: Summer Zhang

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