China LLDPE futures up 2.2% on higher physical LLDPE prices

19 March 2013 09:10  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 2.2% on Tuesday on the back of rising prices for physical LLDPE, industry sources said.

September 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,665/tonne ($1,715/tonne), up by CNY230/tonne from the previous settlement price of CNY10,435/tonne on 18 March.

Around 2.40m tonnes of LLDPE, or 960,128 contracts, were traded for delivery in September 2013, according to the DCE data.

PetroChina’s EXW (ex-works) prices for LLDPE were raised by CNY100/tonne to CNY10,750/tonne in the north and CNY10,650/tonne in the east, and by CNY50/tonne  to CNY10,700/tonne in the south on 19 March. PetroChina’s branches in several regions subsequently raised their EXW prices, which improved market sentiment and caused the futures prices to rise, market players said.

($1 = CNY6.22)

By: Summer Zhang

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