23 August 2012 09:38 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.4% on Thursday, in tandem with anticipation for a third round of quantitative easing, after the Federal Open Market Committee’s August meeting minutes were released, industry sources said.
The minutes from the US Federal Reserve’s August committee meeting were released earlier this week.
January LLDPE futures – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 10,040/tonne ($1,581/tonne), up by CNY40/tonne from the previous settlement price of CNY10,000/tonne on 22 August.
Around 1.73m tonnes of LLDPE – or 692,292 contracts – were traded for delivery in January, according to DCE data.
($1 = CNY6.35)
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