China’s September LLDPE futures up 0.24% on crude, April PMI

02 May 2012 10:39  [Source: ICIS news]

SINGAPORE (ICIS)--China’s liner low density polyethylene (LLDPE) futures increased by 0.24% on Wednesday on the back of rising crude oil prices and news of the country’s Purchasing Managers’ Index (PMI) for April, industry sources said.

The National Bureau of Statistics released on 2 May its preliminary April PMI data for China with a reading of 53.3 points, up from 53.1 in March and the highest reading in five months.

September LLDPE futures, which are the most actively traded contracts on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,455/tonne ($1,665/tonne) on 2 May, up by CNY25/tonne from the settlement price of CNY10,430/tonne on 27 April, DCE data showed.

Around 874,000 tonnes of LLDPE, or 349,600 contracts, were traded for delivery in September, according to the data.

($1 = CNY6.28)

By: Doreen Zhao

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