19 February 2013 10:10 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures dropped by 1.7% on Tuesday as sentiment for the spot LLDPE market was bearish, an industry source said.
The stock of PE has piled up over the Lunar New Year holiday. However, the operating rates at the plants of most downstream manufacturers were still not high.
September 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 11,235/tonne ($1,798/tonne), down by CNY190/tonne from the settlement price at CNY11,425/tonne on 18 February.
Around 930,145 tonnes of LLDPE, or 372,058 contracts, for delivery in September 2013 were traded on 19 February, according to the DCE data.
($1 = CNY6.25)
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