China Jan ’14 LLDPE futures fall 1.79% on technical retracement

29 August 2013 10:37  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures decreased by 1.79% on Thursday, on the back of a technical retracement, industry sources said.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,975/tonne ($1,793/tonne), down by CNY200/tonne from the previous settlement price of CNY11,175/tonne on 28 August.

January LLDPE futures climbed from CNY10,615/tonne on 23 August to CNY11,030/tonne on 28 August, an increase of CNY415/tonne.

Around 2.32m tonnes of LLDPE, or 928,584 contracts, were traded for delivery in January, according to the DCE data.

($1 = CNY6.12)

By: Doreen Zhao

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