China LLDPE futures gain 2% on hopes over Chinese economy

17 December 2012 09:27  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rose by 2.0% on Monday on hopes of a stronger Chinese economy next year as authorities promised to maintain proactive and prudent fiscal and monetary policies, industry sources said.

May 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,655/tonne ($1,705/tonne), up by CNY210/tonne from the settlement price of CNY10,445/tonne on 14 December.

Around 1.76m tonnes of LLDPE or 702,404 contracts for delivery in May 2013 were traded on Monday, according to the DCE data.

($1 = CNY6.25)

By: Rain Dong

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