China’s May LLDPE futures rebound, up by 0.81% on firmer crude

22 November 2012 09:44  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rebounded on Thursday, increasing by 0.81% in tandem with the rising trend of crude oil prices, industry sources said.

The HSBC has released its November flash purchasing managers’ index (PMI) for China with a reading of 50.4, up from 49.5 in October. The news also boosted the market sentiment.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,825/tonne ($1,577/tonne), up by CNY80/tonne from the previous settlement price of CNY9,745/tonne on 21 November.

Around 680,935 tonnes of LLDPE, or 272,374 contracts, were traded for delivery in May 2013, according to the DCE data.

($1 = CNY6.23)

By: Angie Li
+65 6780 4359

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