CommoPlast Article

Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 24 August 2022. The following table showed the details of the auction results for prime grade only:

Product	Auction Volume	Deal Volume	Auction Prices		Deal Prices			Deal %
Product	Auction Volume	Deal Volume	CNY/ton	USD/ton	CNY/ton	USD/ton
*Combined and reported by CommoPlast*
Homo-PP	2966	1374	7630	$984	7640-7950	$986-1026	46.3%
PP Fiber	-	-	-	-	-	-	-
PPBC	132	100	7770	$1002	7770	$1002	75.8%
LLDPE	2050	1112	7590	$979	7600-7700	$980-993	54.2%
LDPE	-	-	-	-	-	-	-
HDPE	200	0	7680	$991	-	-	0.0%
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.

Trading sentiment remains dwindling on the Shenhua auction platform and the producer continues to allocate more quantity to this trading platform to compensate for the weak spot market. Market players are losing confidence in the near-term outlook as Shenhua has not been able to deplete the inventory even though the month-end closing is near.

Shenhua Baotou Coal Chemical Co is currently the largest coal-based polyolefins producer in China, operating 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

[FREE] 24 August 2022 - Shenhua's coal-based PP and PE Auction Results