China's Sept LLDPE futures dip 1.66% on weaker crude, April PMI

02 May 2013 10:23  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures decreased by 1.66% on Thursday, in tandem with lower crude oil prices and China's April PMI index, industry sources said.

On 1 May, NYMEX WTI crude futures closed at $91.03/bbl, down by $2.43/bbl from 30 April.

China's National Bureau of statistics released its preliminary April purchasing managers’ index (PMI) for China with a reading of 50.6, down by 0.3 points from March.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,795/tonne ($1,588/tonne), down by CNY165/tonne from the previous settlement price of CNY9,960/tonne on 26 April.

Around 1.03m tonnes of LLDPE, or 413,132 contracts, were traded for delivery in September, according to the DCE data.

($1 = CNY6.17)

By: Doreen Zhao

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