China LLDPE futures up by 1.17% on rising crude oil prices

18 January 2013 09:50  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.17% on Friday on the back of upbeat sentiment following rising crude oil prices and positive US employment data, industry sources said.

The January 2013 NYMEX crude oil futures closed at $95.49/bbl overnight, up by 1.33% from the previous day.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,780/tonne ($1,733/tonne), up by CNY125/tonne from the previous settlement price of CNY10,655/tonne on 18 January.

Around 1.14m tonnes of LLDPE, or 456,838 contracts, were traded for delivery in May 2013, according to the DCE data.

($1 = CNY6.22)

By: Summer Zhang

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