China LLDPE futures fall 1.03% as Fed hints no stimulus for US

08 June 2012 09:44  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures fell by 1.03% on Friday on concerns about the global economic outlook as the US Federal Reserve provided no hints of fresh measures to boost the US economy.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,135/tonne ($1,434/tonne) on 8 June, down by CNY95/tonne from the settlement price of CNY 9,230/tonne on Thursday.

Around 2.26m tonnes of LLDPE, or 902,102 contracts, were traded for delivery in September, according to DCE data.

The market largely ignored China’s surprise 25-basis point cut in policy rates that took effect on 8 June.

($1 = CNY6.37)

By: Lizzie Yu

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