China LLDPE futures barely move as downstream demand stays weak

11 December 2012 09:10  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures were largely unchanged on Tuesday, following sharp gains in the previous day, as there was no significant improvement in downstream demand, industry sources said.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,535/tonne ($1,691/tonne), up by CNY10/tonne from Monday’s settlement price of CNY10,525/tonne.

Around 967,010 tonnes of LLDPE or 386,804 for delivery in May 2013 were traded on Tuesday, according to the DCE data.

Buying sentiment remained weak, with end-users resisting higher priced cargoes.

($1 = CNY6.23)

By: Summer Zhang

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