China’s January LLDPE futures up 1.34% on bullish market sentiment

21 August 2014 10:43 Source:ICIS News

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 1.34% on 21 August because market sentiment was bullish following news of an upcoming plant shutdown in September, industry sources said on Thursday.

Shenhua Baotou Charcoal Chemical plans to shut its  300,000 tonne/year high density PE (HDPE)/LLDPE swing plant on 10 September for about 45 days, the sources added.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,990/tonne ($1,787/tonne), up from the settlement price of CNY10,845/tonne on 20 August.

Around 848,500 tonnes of LLDPE or 339,400 contracts for delivery in January 2015 were traded on Thursday, according to DCE data.

($1 = CNY6.15)

By Lizzie Yu