CommoPlast Article

Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 26 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	Deal %
*Combined and reported by CommoPlast*
Homo-PP	1576	845	7650	$988	7650-7960	$988-1028	53.6%
PP Fiber	-	-	-	-	-	-	-
PPBC	132	100	7780	$1005	7780	$1005	75.8%
LLDPE	1150	734	7590	$981	7590-7750	$981-1001	63.8%
LDPE	-	-	-	-	-	-	-
HDPE	300	76	7580	$979	7580-7800	$979-1008	25.3%
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.

Transactions on the Shenhua auction platform improved slightly on the final trading day of the week, however, it is clear that Chinese bidders remain conservative about making large purchases citing the uncertain demand outlook. The government vowed to boost infrastructure spending to promote growth, which so far, has limited impact on the commodity market.

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

[FREE] 26 August 2022 - Shenhua's coal-based PP and PE Auction Results