China September LLDPE futures gain 1.67% on firm spot prices

21 May 2013 10:41  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.67% on Tuesday, backed by firm spot domestic values of the polyolefin, industry sources said.

September LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,355/tonne ($1,686/tonne) on Tuesday, up by CNY170/tonne from Monday's settlement price of CNY10,185/tonne.

Around 2.01m tonnes of LLDPE for delivery in September or 803,622 contracts were traded on Tuesday, the DCE data showed.

Meanwhile, domestic spot LLDPE traders are holding on to their current offers, citing the scheduled maintenance major LLDPE facilities in China is keeping supply tight even though demand is still weak. Spot LLDPE prices in China were assessed at CNY10,400-10,700/tonne on Tuesday.

($1 = CNY6.14)

By: Angie Li
+65 6780 4359

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