SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures dropped by 1.1% on Monday due to a sluggish market, industry sources said.
The May 2018 LLDPE futures, the most actively traded contract at the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,440/tonne ($1,498/tonne), down by CNY105/tonne from 9 February.
Around 563,000 tonnes of LLDPE for delivery in May were traded on Monday, according to the DCE data.
As most traders and end-users have left the market ahead of the Lunar New Year holidays, there were no deals done in the spot market in the past few days.
Chinese markets will close for a full week on 15-21 February for the Lunar New Year and Spring Festival.
($1 = CNY6.30)