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12 June 2024 - Shenhua's coal-based PP and PE Auction ResultsShenhua continued to achieve strong auction results for homo-PP and LLDPE given the fact that these coal-based parcels are about CNY50 – 100/ton below the domestic spot market. |
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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 12 June 2024. 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 |
1816 |
1766 |
7500 |
$915 |
7540-7810 |
$920-953 |
97.2% |
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PP Thinwall |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
150 |
0 |
7850 |
$958 |
- |
- |
0.0% |
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LLDPE |
1100 |
1100 |
8300 |
$1013 |
8340-8470 |
$1018-1034 |
100.0% |
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LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
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HDPE |
300 |
120 |
8300 |
$1013 |
8300-8500 |
$1013-1038 |
40.0% |
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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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Shenhua continued to achieve strong auction results for homo-PP and LLDPE given the fact that these coal-based parcels are about CNY50 – 100/ton below the domestic spot market. Buyers selectively procured cargo to cover the immediate needs.
“It is the offpeak season and we do not foresee any drastic changes in purchasing behaviour in the short-term. Any attempt to raise prices would only push customers to the sideline,” a market source added.
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
