06 December 2012 10:32 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 0.34% on Thursday on the back of bullish sentiment, industry sources said.
May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,355/tonne ($1,662/tonne), up by CNY35/tonne from the previous settlement price of CNY10,320/tonne on 5 December.
Around 1.87m tonnes of LLDPE, or 749,958 contracts, were traded for delivery in May 2013, according to the DCE data.
The report also said that the GDP growth in the 2012 fourth quarter is likely to rebound to 7.5% from 7.4% in the third quarter, which boosted market confidence in the LLDPE market.
($1 = CNY6.23)
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