China LLDPE futures gain 2.55% on firm crude prices

02 July 2013 10:50  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 2.52% on Tuesday on the back of firm crude oil prices, industry sources said.

January LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,270/tonne ($1,673/tonne), up by CNY255/tonne from Monday’s settlement price of CNY 10,015/tonne.

Around 1.36m tonnes of LLDPE or 542,408 contracts for delivery in January 2014 were traded on Tuesday, according to DCE data.

US crude futures were at above $98/bbl in late-afternoon trade, while Brent crude was quoted at above $103/bbl.

($1 = CNY6.14)

By: Lizzie Yu

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