China LLDPE futures jump 2.62% on upbeat US, China economic data

10 December 2012 09:35  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 2.62% on Monday following release of upbeat economic data from the world’s two biggest economies, industry sources said.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,575/tonne ($1,681/tonne), up by CNY270/tonne from the settlement price of CNY10,305/tonne on 7 December.

Around 2.24m tonnes of LLDPE or 896,876 contracts for delivery in May 2013 were traded on Monday, according to the DCE data.

Jobs data in the US turned out better than expected in November, with unemployment rate in the world’s biggest economy declining.

In China, on the other hand, industrial output in November grew by 10.1% year-on-year - the highest recorded in eight months for the world's second largest economy.

($1 = CNY6.23)


By: Summer Zhang



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