China’s Jan’13 LLDPE futures up 0.84% on US quantitative easing

06 September 2012 09:38  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 0.84% on Thursday, because of expectations that US Federal Reserve policymakers may conduct a third round of large-scale asset purchases, or quantitative easing, industry sources said.

January LLDPE – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 10,235/tonne ($1,612/tonne), up by CNY85/tonne from the settlement price of CNY10,150/tonne on 5 September, DCE data showed.

Around 1.11m tonnes of LLDPE, or 443,528 contracts, for delivery in January were traded on Thursday, according to the data.

($1 = CNY6.35)

By: Lizzie Yu

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