China LLDPE futures dip 0.66% on concerns over slowing economy
02 December 2011 09:30 [Source: ICIS news]
SINGAPORE (ICIS)--?xml:namespace>China’s linear low density polyethylene (LLDPE) futures slipped by 0.66% at the close of trade on Friday on concerns over the cooling down of the domestic economy, industry sources said.
May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,730/tonne ($1,527/tonne) on Friday, down by CNY65/tonne from the settlement price on Thursday, according to DCE data.
About 2.04m tonnes of May LLDPE or 816,942 contracts were traded on Friday, the data showed.
China’s official Purchasing Managers’ Index (PMI) for November showed a 49% reading, indicating a contraction in the country’s manufacturing output.
($1 = CNY6.37)
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