Plastics futures to launch on DGCX
The Dubai Gold and Commodities Exchange (DGCX) is set to launch two plastics futures contracts on February 5. The region-specific contracts for the Middle East and Southeast Asia will be offered on linear low-density polyethylene (LLDPE) and polypropylene (PP).
According to James Bernard, associate director of the Dubai Multi Commodity Centre, the majority owners of the DGCX, the products were chosen because they are the plastics that are traded at the highest volume. "Linear and polypropylene are the biggest volume plastics out there - they are equivalent to aluminium and copper in the metals world," he says. "These contracts will allow everyone to use the index price as a benchmark," he adds.
DGCX chief executive officer Malcolm Wall Morris says that
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