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29 November 2023 - Shenhua's coal-based PP and PE Auction ResultsPurchasing activities on the Shenhua auction platform remain satisfactory toward the month-end as the coal-based producer conceded to another CNY20-30/ton discount from the previous session to facilitate transactions |
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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 29 November 2023. The following table showed the details of the auction results for prime grade only:
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Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
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CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
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Combined and reported by CommoPlast |
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Homo-PP |
1730 |
1221 |
7210 |
$895 |
7390-7530 |
$917-935 |
70.6% |
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PP Fiber |
118 |
118 |
7500 |
$931 |
7500 |
$931 |
100.0% |
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PPBC |
650 |
323 |
7280 |
$904 |
7450-7520 |
$925-933 |
49.7% |
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LLDPE |
650 |
600 |
7710 |
$957 |
7710-8000 |
$957-993 |
92.3% |
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LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
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HDPE |
100 |
0 |
7900 |
$981 |
- |
- |
0.0% |
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*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. |
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Purchasing activities on the Shenhua auction platform remain satisfactory toward the month-end as the coal-based producer conceded to another CNY20-30/ton discount from the previous session to facilitate transactions. Market sources expected the auction volume to decline further in the next couple of days as the maker seeks to wrap up the month.
Despite cautious expectations for a potential price rebound in the near term, traders remain hesitant to be overly optimistic, given the persistently weak actual market demand.
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
