06 May 2013 10:11 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures increased by 1.46% on Monday as market sentiment was buoyed by the US’ better-than-expected employment data.
The US, which is the world’s biggest economy, is a major export market for China.
September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,090/tonne ($1,638/tonne), up by CNY145/tonne from the settlement price of CNY9,945/tonne on 3 May.
Around 1.28m tonnes of LLDPE or 514,094 contracts for delivery in September 2013 were traded on Monday, according to DCE data.
US’ nonfarm payrolls increased by 165,000 in April, higher than the 138,000 increment in the previous month, with unemployment rate dipping to 7.5% from 7.6% in March.
($1 = CNY6.17)
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