China May LLDPE futures flat; no clear direction from spot market

04 December 2012 09:48  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures barely moved on Tuesday, following sharp gains in the previous day, and with no clear price direction from the spot physical market, industry sources said.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,310/tonne ($1,655/tonne), up by CNY10/tonne or 0.1% from the settlement price of CNY10,300/tonne on 3 December.

Around 1.53m tonnes of LLDPE or 610,534 contracts for delivery in May 2013 were traded on Tuesday, according to DCE data.

Spot domestic LLDPE prices in China were assessed at CNY10,800-11,300/tonne on Tuesday,  up by CNY50/tonne from Monday.

($1 = CNY6.23)

By: Lizzie Yu

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