CommoPlast

[FREE] 29 August 2022 - Shenhua's coal-based PP and PE Auction Results

[FREE] 29 August 2022 - Shenhua's coal-based PP and PE Auction Results



Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 29 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 %

CNY/ton

USD/ton

CNY/ton

USD/ton

Combined and reported by CommoPlast

Homo-PP

1750

950

7650

$978

7650-7970

$978-1019

54.3%

PP Fiber

-

-

-

-

-

-

-

PPBC

32

0

8000

$1023

-

-

0.0%

LLDPE

1150

539

7640

$977

7640-7820

$977-1000

46.9%

LDPE

150

150

9500

$1215

9500

$1215

100.0%

HDPE

246

146

7600

$972

7800-7810

$997-999

59.3%

*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.

                 

There have not been any major changes in trading sentiment on the Shenhua Auction Platform. Toward the end of the month, the producer continues to have a high number of cargoes, signalling the weak demand conditionDespite the government’s effort to stimulate growth, buyers remain pessimistic about the demand outlook. 

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


Country
China