NYSE Plastics Continue to Move Higher as Enthusiasm Builds

Dalian plastics (LLDPE) futures index climbed strongly higher on the 10th. The main 1105 contract closed at 12,370 yuan/ton, up 360 yuan/ton. Yesterday, even plastic opened slightly lower, then the long capital in the market actively involved, making the futures price pulled up sharply to 12,200 near. Fundamentally, Asian ethylene monomer prices rose to stimulate LLDPE production costs rose again, prompting futures prices to maintain oscillation near 12,200. And now is about to enter the peak season of agricultural film demand, producers need to stockpile also to a certain extent on the LLDP support, is expected to the market even plastic is expected to shock higher. New York Mercantile Exchange (NYMEX) crude oil futures closed close to flat on the 10th, traders in Egypt President Mubarak (Hosni Mubarak) will step down under the expectation of suspend trading. The March crude futures contract settled up $0.02 to $86.73 a barrel, after rising to a high of $87.90 a barrel earlier in the day. the ICE Brent crude futures contract fell $1.26 to $100.56 a barrel. Egyptian military and ruling party officials said Mubarak will soon address the nation and meet the demands of demonstrators. Demonstrators insisted that Mubarak step down immediately […]