01 April 2013 09:48 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures September delivery dropped by 1.82% on Monday as a result of the latest Chinese purchasing managers’ index (PMI) data, industry sources said.
China’s PMI was 50.9 for March this year, which is lower than the market forecast of 52.
September 2013 LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,240/tonne ($1,646/tonne), down by CNY190/tonne from the settlement price of CNY10,430/tonne on 29 March.
Around 2.29m tonnes of LLDPE, or 915,724 contracts, for delivery in September 2013 were traded on Monday, according to DCE data.
($1 = CNY6.22)
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