21 December 2012 09:27 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures dipped by 0.61% on Friday, tracking losses in the Chinese stock market, industry sources said.
The Shanghai Stock Exchange Composite Index fell by 15.04 points, or 0.69%, during the trading session to close at 2,153.31 points.
Market sentiment has turned bearish as expected, with a lack of progress seen in the ongoing “fiscal cliff” negotiations in the US, sources said.
May 2013 LLDPE futures – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 10,505/tonne ($1,686/tonne), down by CNY65/tonne from the previous settlement price of CNY10,570/tonne on 20 December.
Around 1.21m tonnes of LLDPE, or 482,040 contracts, were traded for delivery in May 2013 on 21 December, according to the DCE data.
($1 = CNY6.23)
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