China’s May LLDPE futures up 1.74% on ease in local inflation

09 January 2014 09:35  [Source: ICIS news]

SINGAPORE (ICIS)--China’s linear low density polyethylene (LLDPE) futures rallied up by 1.74% on Thursday, boosted by the announcement of a lower consumer price index (CPI) data in the country by National Bureau of Statistics (NBS), industry sources said.

May LLDPE – the most actively traded contract on the Dalian Commodity Exchange (DCE) – closed at yuan (CNY) 11,130/tonne ($1,840/tonne) on 9 January, up by CNY190/tonne from the previous day’s settlement price of CNY10,940/tonne, DCE data showed.

Around 2.08m tonnes of LLDPE, or 831,628 contracts, were traded for May delivery, according to the data.

CPI, a main gauge of inflation, rose by 2.5% year on year in December, a decrease from the 3.0% on-year rise in November, NBS said.

($1 = CNY6.05)

By: Doreen Zhao

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