First SGX-cleared LLDPE swaps concluded

SINGAPORE (ICIS)–The first Singapore Exchange (SGX)-cleared linear low density polyethylene (LLDPE) swaps for January and February settlement were concluded late on Thursday, according to market sources.

The January contract was concluded at $1,110/tonne and the February contract was closed at $1,108/tonne, both on a CFR China basis.

The swaps are based on the ICIS Monthly Settlement Prices (MSPs), which are the monthly averages of the weekly spot price assessments published by ICIS.

Meanwhile, a bid and an offer for March were posted yesterday at $1,106/tonne CFR China and $1,136/tonne, respectively.

The SGX on 19 January 2015 launched four ICIS-linked polyolefin swaps contracts to help market players hedge against risks.