China’s LLDPE futures rise 2.3% on bullish sentiment

04 February 2013 09:26  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures trade rose by 2.3% on Monday on the back of bullish market sentiment driven by the strong US stock market and crude oil prices on 1 February.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 11,360/tonne ($1,823/tonne), up by CNY260/tonne from the previous settlement price of CNY11,100/tonne on 1 Febuary.

Around 1.76m tonnes of LLDPE, or 702,822 contracts, were traded for delivery in May, according to the DCE data.

On 1 February, NYMEX WTI crude futures were at $97.77/bbl in the late afternoon, up by $0.28/bbl from 31 January, and ICE Brent crude futures were at $116.76/bbl in the late afternoon, up by $1.21/bbl from 31 January.

($1 = CNY6.23)
By: Doreen Zhao

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