10 February 2011 14:34 [Source: ICIS news]
Liquidity focused on the May LLDPE futures contract which rose yuan (CNY) 360/tonne ($54.63/tonne) to close at CNY12,370/tonne, data from the Dalian Commodity Exchange (DCE) showed.
The interest rate hike announced on Tuesday was widely anticipated in the past weeks and many investors were concerned about its potential market dampening effect.
But now that the rate hike has been implemented, most investors believe they have seen the last bearish factor for February, said Jack Hua, petrochemical analyst of CITIC Newedge Futures in
($1 = CNY6.59)
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