China’s LLDPE futures fall 3% on crude values, economic data

15 April 2013 10:25  [Source: ICIS news]

SINGAPORE (ICIS)--China’s liner low density polyethylene (LLDPE) futures fell by 3% on 15 April on back of weak crude futures and poor economic data, industry sources said on Monday.

On 12 April, NYMEX WTI crude futures closed at $91.29/bbl, down by $2.22/bbl from 11 April, according to C1 Energy, an ICIS service in China.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,860/tonne ($1,593/tonne), down by CNY300/tonne from the previous settlement price of CNY10,160/tonne on 12 April.

Around 2.06m tonnes of LLDPE, or 822,424 contracts, were traded for delivery in September, according to the DCE data.

($1 = CNY6.19)

By: Doreen Zhao

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