07 March 2013 08:54 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 2.45% on Thursday, in line with decreasing spot LLDPE prices and feedstock ethylene prices, industry sources said.
September’s LLDPE futures – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 10,565/tonne ($1,698/tonne), down by CNY265/tonne from the previous settlement price of CNY10, 830/tonne on 6 March.
Around 2.5m tonnes of LLDPE, or 1,006,328 contracts, were traded for delivery in September, according to DCE.
Feedstock ethylene prices were assessed at $1,330-1,350/tonne CFR NE Asia on 6 March, down by $40-50/tonne from $1,370-1,400/tonne CFR NE Asia on 5 March, ICIS data showed.
In eastern China’s spot LLDPE market, prices for domestic material were at CNY10, 800-11,050/tonne on 7 March, a CNY50/tonne decline at the high end compared with CNY10, 800-11,100/tonne on 6 March, according to Chemease, an ICIS service in China.
($1 = CNY6.22)
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