Polyolefins supplier Basell has expressed concern about the structure of the polypropylene and LLDPE futures contracts to be launched by the London Metal Exchange in May.The LME's contracts have a monthly settlement,but Basell has asked the exchange to incorporate a spot market element in the structure."The structure has to be correct from the start," said Hans-Robert Schmidt,senior vice president of Basell Europe's polyolefin products unit.Speaking at the recent Plastics Pricing and LME Futures conference in Frankfurt,he said Basell supports futures trading for plastics because it creates a price risk management tool and moves away from reliance on published prices.
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