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China launches PVC futures trading

(Xinhua)
Updated: 2009-05-25 15:44

China started the trading of polyvinyl chloride (PVC) futures contracts at 9 am at Dalian Commodity Exchange Monday, with September contract V909 opening 275 yuan ($40.3) higher at 6575 yuan per ton.

Related readings:  High time to develop futures trading in China  China launches early rice futures trading  Steel futures fare well on day one  Non-ferrous metal futures on a roll

After steel futures and rice futures, this is the third new futures trading launched in China this year.

PVC is a kind of synthetic resin widely used in construction, plumbing, electric wires and packaging. China is the world's largest PVC manufacturer, with an annual output of 8.82 million tons last year.