China May LLDPE futures rise 0.46% on higher spot market prices

07 January 2013 09:19  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures gained 0.46% on Monday, inspired by higher prices in the spot physical market, industry sources said.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,930/tonne ($1,754/tonne), up by CNY50/tonne from the settlement price of CNY10,880/tonne on 4 January.

Around 1.49m tonnes of LLDPE or 597,098 contracts for delivery in May 2013 were traded on Monday, according to the DCE data.

Spot domestic LLDPE prices in China were assessed at CNY11,350-11,500/tonne EXWH (ex-warehouse) on Monday, up by CNY100/tonne from last Friday, according to Chemease, an ICIS service in China.

Market sentiment was also upbeat in the equities market on Monday, with the Shanghai Composite Index closing at 2,285.36, up by 8.37 points or 0.37% from 4 January.

($1 = CNY6.23)

By: Amy Yu

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