China May LLDPE futures fall 1.5% on stock market losses

11 January 2013 09:03  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures declined by 1.5% on Friday, tracking losses in the Chinese stock market, industry sources said.

May 2013 LLDPE futures – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 10,570/tonne ($1,697/tonne), down by CNY160/tonne from Thursday's settlement price of CNY10,730/tonne.

Around 1.19m tonnes of LLDPE or 474,256 contracts for delivery in May 2013 were traded on Friday, according to the DCE data.

Initial optimism about China’s economic prospects following the release of positive December trade data on Thursday were tempered as the country’s inflation in December rose to a seven-month high.

The Shanghai Stock Exchange Composite Index fell by 40.66 points, or 1.78%, to close at 2,243.00 points.

($1 = CNY6.23)

By: Angie Li
+65 6780 4359

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