China May LLDPE futures up 0.72% on higher PMI for October

01 November 2012 09:25  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.72% on Thursday after initial data on the country’s manufacturing activities showed an improvement in October, industry sources said.

The National Bureau of Statistics has released its preliminary October Purchasing Managers’ Index (PMI) for China with a reading of 50.2, up from 49.8 in September.

May LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,855/tonne ($1,579/tonne), up by CNY70/tonne from the previous settlement price of CNY9,785/tonne on 31 October.

Around 1.08m tonnes of LLDPE, or 433,786 contracts, were traded for delivery in May, according to the DCE data.

($1 = CNY6.25)

By: Doreen Zhao

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