China LLDPE futures rise 1.51% as spot prices strengthen

05 May 2014 09:44 Source:ICIS News

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures gained 1.51% on Monday, in line with strengthening spot market prices of the polymer, industry sources said.

September LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 11,075/tonne ($1,769/tonne), up by CNY165/tonne from the settlement price on 30 April.

The market was closed on 1-2 May for Labour Day.

Around 1.13m tonnes of LLDPE or 452,940 contracts for delivery in September were traded on 5 May, the DCE data showed.

Domestic spot LLDPE prices in east China stood at CNY11,750-11,900/tonne on Monday,  up by CNY50/tonne at the high-end of the assessed price range on 30 April, according to Chemease, an ICIS service in China.

($1 = CNY6.26)

By Angie Li