26 September 2013 10:48 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.97% on Thursday, supported by firmer spot domestic LLDPE prices as buying activity increased, industry sources said.
After falling for nearly two weeks, spot LLDPE prices in east China rebounded to yuan (CNY) 11,250-11,350/tonne ($1,838-1,855/tonne) on 26 September, up by CNY50/tonne compared with the previous day, according to Chemease, an ICIS service in China.
The drop in prices over the past two weeks boosted buying activity ahead of the Chinese National Day holiday, a local trader said.
January 2014 LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at CNY10,875/tonne on 26 September, up by CNY105/tonne from the previous day’s settlement price of CNY10,770/tonne.
Around 2.66m tonnes of LLDPE for delivery in January or 532,910 contracts were traded on 26 September, the DCE data showed.
($1 = CNY6.12)
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