New futures likely soon

SHANGHAI: Dalian Commodity Exchange (DCE), one of the three futures exchanges in the nation, yesterday said that LLDPE (Line Low Density Polyethylene) futures are likely to be traded from August pending final approval from the China Securities Regulatory Commission.

LLDPE is a petroleum-based chemical used as a major input in the production of plastic wrappings for agricultural products, tubes and cables.

The launch of LLDPE futures is the first new instrument by DCE this year. Other commodity futures traded on the exchange include corn, soybeans, soybean oil and soybean meal.