China LLDPE futures up 1.27% on largely firmer spot prices

26 December 2013 09:47  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.27% on Thursday because of largely bullish spot prices, industry sources said.

May LLDPE futures – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 11,180/tonne ($1,842/tonne), up from the previous settlement price of CNY11,040/tonne.

In the spot market, prices for locally produced cargoes were assessed at CNY11,700-12,300/tonne on 26 December, up at the low end from CNY11,550-12,300/tonne on 25 December, according to Chemease, an ICIS service in China.

Around 886,600 tonnes of LLDPE, or 354,640 contracts, were traded for delivery in May, according to the DCE data.

($1 = CNY6.07)

By: Doreen Zhao

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