China’s Sept LLDPE futures drop 1.19% on weaker physical market

27 February 2013 09:49  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures dropped by 1.19% on Wednesday, tracking the decrease in LLDPE prices in the Chinese physical market, industry sources said.

The prices of domestic LLDPE were at yuan (CNY) 10,850-11,200/tonne ($1,742-1,978/tonne) on 27 February, down by CNY150-200/tonne compared with the previous week, as some domestic producers lowered their offers amid weak downstream demand, according to Chemease, an ICIS service.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at CNY10,790/tonne, down by CNY130/tonne from the settlement price of CNY10,920/tonne on 26 February.

Around 1.79m tonnes of LLDPE, or 717,588 contracts, for delivery in September 2013 were traded on 27 February, according to DCE data.

($1 = CNY6.23)

By: Lizzie Yu

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