China’s LLDPE futures rise by 1.29% in line with firm spot values

05 September 2013 09:25  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by1.29% on Thursday, supported by firms spot domestic prices, industry sources said.

Spot LLDPE prices in China were assessed at yuan (CNY) 11,600-11,750/tonne ($1,895-1,920/tonne) on Thursday, higher by 1.08% than the assessed prices on 30 August, according to Chemease.

“The LLDPE futures market didn’t reflect the phenomenon (the stronger LLDPE physical market) significantly in the first half of this week,” a source said in Mandarin.

January LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,970/tonne on Thursday, up by CNY140/tonne from Wednesday's settlement price of CNY10,830/tonne.

Around 2.37m tonnes of LLDPE for delivery in January, or 949,154 contracts, were traded on Thursday, the DCE data showed.

($1 = CNY6.12)

By: Angie Li
+65 6780 4359

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