China’s LLDPE futures rise by 0.33% ,hiked offers by local producers

28 December 2012 09:18  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rise by 0.33% on Friday because of the hiked prices offered by local producers for the early January cargoes.

Sinopec eastern and northern branch pushed up their offers by CNY150/tonne and CNY 50/tonne respectively on Friday which bolstered the spot LLDPE market.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10730/tonne ($1,719/tonne), up by CNY35/tonne from the previous settlement price of CNY10,695/tonne on 27 December.

Around 813,195 tonnes of LLDPE, or 325,278 contracts, were traded for delivery in May 2013 on 28 December, according to the DCE data.

($1 = CNY6.24)

By: Angie Li
+65 6780 4359

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