China’s LLDPE futures rise by 1.24% on bullish market sentiment

Amy Yu

20-Apr-2015

SINGAPORE (ICIS)–China’s linear low density polyethylene (LLDPE) futures rose by 1.24% on 20 April as increased liquidity was expected to help economic growth, industry sources said.

The Chinese central bank announced on 19 April that it will lower its reserve requirement ratio by 1 percentage points from 20 April 2015.

The move will release liquidity of around 1.5 trillion yuan to support economic growth, said by market players.

September LLDPE futures, the most actively traded contract on the Dalian Commodity Exchange (DCE), closed at yuan (CNY) 9,810/tonne on 20 April, up by CNY120/tonne from last Friday’s settlement price.

Around 1.89m tonnes of PE, or 755,154 contracts, for delivery in September were traded on Monday, according to DCE data.

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