China September LLDPE futures up 1.89% on crude overnight rebound

03 May 2013 10:21  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 1.89% on Friday, in line with the strong rebound in crude prices overnight, industry sources said.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,955/tonne ($1,616/tonne), up by CNY185/tonne from the settlement price of CNY9, 770/tonne on 2 May.

Around 1.52m tonnes of LLDPE or 608,378 contracts for delivery in September 2013 were traded on Friday, according to DCE data.

On Thursday, US crude closed at $93.99/bbl, up by $2.96/bbl from the previous day.

($1 = CNY6.16)

By: Doreen Zhao

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