In a move to to cater to the rapidly growing petrochemicals market in the Middle East, Dubai's Gold and Commodities Exchange (DGCX) is expected to start trading plastics contracts by Q3 of this year. The exchange will trade low-density polyethylene, high- density polyethylene, linear low-density polyethylene and polypropylene. The new contracts will be largely paper-settled and will allow for physical delivery at various locations to get convergence between the spot and futures price.
The region is the world's top oil exporting region and has over 50% of the world's petrochemical projects. For each grade, there will be three regional contracts- North East Asia, Southeast Asia and the Middle East.
07-Jun-07 
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