China’s LLDPE futures dip by 0.28% on weak economic data

13 April 2012 09:53  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 0.28% on Friday following news that the country’s economic growth softened in the first quarter of this year.

The country’s economy eased to an annual rate of 8.1% in the first quarter of 2012, from 8.9% in the fourth quarter of last year, the National Bureau of Statistics said on Friday.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,495/tonne ($1,669/tonne) on Friday, down by CNY30/tonne from the settlement price of CNY10,525/tonne on Thursday.

Around 1.24m of LLDPE, or 496,944 contracts, for delivery in September were traded on Thursday, according to DCE data.

($1 = CNY6.29)

By: Angie Li
+65 6780 4359

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