China’s LLDPE futures down 1.12% on bearish market sentiment

23 April 2013 11:06  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures decreased by 1.12% on 23 April as HSBC’s flash purchasing managers’ index (PMI) for China fell to 50.5 in April, down by 1.1 points from March, industry sources said.

The news led to bearish sentiment in the LLDPE market in China, they added.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,675/tonne ($1566/tonne), down by CNY110/tonne from the settlement price of CNY9,785/tonne on 22 April.

Around 2.19m tonnes of LLDPE or 877,624 contracts for delivery in September 2013 were traded on 23 April, according to DCE data.

($1 = CNY6.18)

By: Amy Yu

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