China’s Sept LLDPE futures down 1.48% on bearish sentiment

18 April 2013 09:55  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 1.48% on Thursday on back of the bearish sentiment following decreasing crude prices and pessimistic European economic data, industry sources said.

On 17 April, NYMEX WTI crude futures closed at $86.68/bbl, down by $2.04/bbl from 16 April.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,675/tonne ($1,568/tonne), down by CNY145/tonne from the settlement price of CNY9,820/tonne on 17 April.

Around 2.57m tonnes of LLDPE or 1,029,850 contracts for delivery in September 2013 were traded on 18 April, according to DCE data.

According to the European statistics agency, the economic sentiment index in eurozone fell to 24.9 from 33.4 in April, which dampened market confidence.

($1 = CNY6.17)

By: Doreen Zhao

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