China May LLDPE futures flat as producers cut spot market prices

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

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures were largely unchanged on Monday as domestic producers have lowered their spot market prices for the material, industry sources said.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,650/tonne ($1,712/tonne), down by CNY10/tonne from the settlement price of CNY10,660/tonne on 11 January.

Around 1.14m tonnes of LLDPE or 455,536 contracts for delivery in May 2013 were traded on Monday, according to the DCE data.

PetroChina’s eastern branch reduced its ex-works (EXW) price for LLDPE by CNY100/tonne to CNY11,250/tonne on Monday, while its southern branch issued a bigger price reduction of CNY200/tonne to CNY11,200/tonne.

($1 = CNY6.22)

By: Summer Zhang

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