Gulf plastic futures to be launched

Plastics traders and consumers are hoping the launch of a new plastics futures contract in Dubai will offer a useful hedging tool and greater price transparency.

The contract would ensure success where London’s LME has so far failed, they believe.
The bourse hopes to launch four contracts next month in low-density polyethylene, high-density polyethylene, linear low-density polyethylene, and polypropylene.

For each grade, there will be three regional contracts: Northeast Asia, Southeast Asia and the Middle East

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