20 June 2013 09:09 [Source: ICIS news]
SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures declined by 1.37% on Thursday following release of downbeat manufacturing data in June, industry sources said.
September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 10,545/tonne ($1,720/tonne), down by CNY145/tonne from Wednesday's settlement price of CNY10,690/tonne.
Around 1.53m tonnes of LLDPE or 611,416 contracts for delivery in September 2013 were traded on Thursday, according to DCE data.
Investment bank HSBC said that its flash purchasing managers’ index (PMI) for China fell to a nine-month low of 48.3 in June from a final reading of 49.2 in May.
PMI is a barometer of an economy's manufacturing activities, with a reading above 50 indicating expansion, and a number below 50 denoting contraction.
($1 = CNY6.13)
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