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In China LLDPE import trade has stalled as the sharp fall

November 10/2011

(ICIS) -- Chinas linear low density polyethylene (LLDPE) import trade has stalled as the sharp fall on the LLDPE futures market early on Thursday has caused uncertainty in the market outlook, industry sources said. There was no buying interest for spot cargoes after the futures plunged, but spot prices are holding up, local traders said.

Most local traders were unwilling to sell November cargoes at below $1,200/tonne (?888/tonne) CFR (cost & freight) China because their import costs were at around $1,140-1,180/tonne CFR China, they said.

Traders sold cargoes at $1,200-1,220/tonne CFR China earlier in the week, they added.
Chinas LLDPE futures trade was halted early on Thursday after prices fell by 5% on concerns about the eurozone debt crisis.

The sharp fall in this mornings futures prices was triggered by an external factor, so sellers in the spot market are not that bearish, a Shanghai-based PE trader said. A Zhejiang-based PE trader said it remains to be seen how the plunging futures would affect the spot market.

Perspectives of development of polymer markets, pricing issues and other important aspects will be discussed at The Polymers Summit-2011, which will be held in Moscow on November 30, 2011 at the Ritz Carlton Hotel. The Summit will be organized by MRC with the support of ICIS. The main idea of the Summit is to find a "the golden mean" between producers and converters. When producers receive exactly such margin of production, which helps them to invest in production expansion in order to substitute polymers imports, and the converters receive such price of feedstock that helps them to compete imported finished products. The Summit site gives an access to the live video of the Summit, speakers" presentations, as well as opportunities to ask questions or make appointments to any Summit partcipant.

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