21 May 2012 10:37 [Source: ICIS news]
News that Chinese Premier Wen Jiabao has called for greater efforts to support growth through more monetary fine-tuning and fiscal incentives also lent some support to LLDPE futures, a source said.
September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,830/tonne ($1,553/tonne) on 21 May, up by CNY140/tonne from the settlement price of CNY9,690/tonne on 18 May.
Around 0.64m tonnes of LLDPE, or 254,506 contracts, were traded for delivery in September, according to DCE data.
($1 = CNY6.33)
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