China's DCE to start PVC futures trading around 25 May

15 May 2009 10:31  [Source: ICIS news]

SHANGHAI (ICIS news)--China’s Dalian Commodity Exchange (DCE) plans to start polyvinyl chloride (PVC) futures trading around 25 May, a source from DCE said on Friday.

"China Securities Regulatory Commission (CSRC) has approved PVC contract specification recently and we will release the detailed information on listing later on Friday," the source said.

PVC will become the second chemical product futures traded by the exchange after linear low density polyethylene (LLDPE).

The daily cap on price movement was proposed to be 4% of the previous day's settlement price, DCE said on its website.

China’s PVC output and consumption in 2008 was estimated at 8.82m tonnes and 9.25m tonnes respectively, making it the largest PVC producing and consuming country in the world.

($1=CNY6.82)

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