China January LLDPE futures rise 1.32% on upbeat economic data

24 October 2012 10:30  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures gained 1.32% on Wednesday, following release of data showing improvement in manufacturing activities in the world’s second largest economy.

January LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,385/tonne ($1,662/tonne), up by CNY135/tonne from the settlement price of CNY10,250/tonne on 23 October.

About 1.49m tonnes of LLDPE or 595,618 contracts for delivery in January 2013 were traded on Wednesday, DCE data showed.

HSBC’s China PMI rose to a three-month high of 49.1 in October, although the number remains below the 50 threshold, which indicates expansion.

 ($1 = CNY6.25)

By: Angie Li
+65 6780 4359

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