30 April 2024 - Shenhua's coal-based PP and PE Auction Results
During this period, there was a noticeable trend of small-scale purchases as buyers sought to make essential replenishments. However, sellers continued to face limited supply pressure.
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 30 April 2024. The following table showed the details of the auction results for prime grade only:
|
Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
||
|
CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
||||
|
Combined and reported by CommoPlast |
|||||||
|
Homo-PP |
700 |
622 |
7510 |
$918 |
7530-7630 |
$920-933 |
88.9% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
100 |
0 |
7700 |
$941 |
- |
- |
0.0% |
|
LLDPE |
600 |
600 |
8330 |
$1018 |
8330-8400 |
$1018-1027 |
100.0% |
|
LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
|
HDPE |
- |
- |
- |
- |
- |
- |
- |
|
*Auction and Deal volumes are in tonnage *All USD equivalent prices only exclude the 13% value-added tax (VAT). They have not taken into account other costs that might incur in the selling process, i.e. import duty, customs clearances. |
|||||||
In the final trading session before the start of the Labour Day holiday, the auctioned volume experienced a significant decrease, particularly for homo-PP, compared to the previous day on the Shenhua Auction Platform. Despite this decline, only LLDPE concluded 100% of the materials.
During this period, there was a noticeable trend of small-scale purchases as buyers sought to make essential replenishments. However, sellers continued to face limited supply pressure. Market players anticipated that prices would likely remain firm after the holiday.
Background:
Shenhua Baotou Coal Chemical Co is currently the largest coal-based polyolefins producer in China, operates under four subsidiaries, namely: Shenhua Xinjiang Coal-based New Materials Project, Shenhua Yulin Energy Co Ltd, Shenhua Baotou Coal Chemical Co Ltd and Shenhua Ningxia Coal Industry Group (Ningmei).
The company has an annual capacity of 2.65 million tons/year of PP, 750,000 tons/year of HDPE/LLDPE and 570,000 tons/year of LDPE.
Shenhua Baotou Coal Chemical Co is active in spot trading, while also conducting the daily auction for its cargoes daily between 10AM to 12PM on the official online platform that specifically designed for this purpose: https://www.e-chnenergy.com