China LLDPE futures down 1.06% on crude values and spot prices

17 September 2013 09:14  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 1.06% on Tuesday, in tandem with slipping crude oil and LLDPE spot prices, industry sources said.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,730/tonne ($1,753/tonne), down by CNY115/tonne from the previous settlement price of CNY10, 845/tonne on 16 September.

Around 1.03m tonnes of LLDPE, or 413,506 contracts, were traded for delivery in January, according to the DCE data.

On 16 September, NYMEX WTI crude futures closed at $106.59/bbl, down by $1.62/bbl or 1.5% from 15 September.

In the spot market, prices for the locally produced cargoes were assessed at CNY11, 450-11,750/tonne, down by CNY100/tonne at low end from 16 September’s levels at CNY11, 550-11,750/tonne, according to Chemease, an ICIS service in China.

($1 = CNY6.12)

By: Doreen Zhao

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