|
|
30 October 2024 - Shenhua's coal-based PP and PE Auction ResultsShenhua auction platform concluded today's session on a weak note. Despite a CNY20/ton discount on homo-PP, market participants were hesitant to increase their purchases, resulting in lower sales volumes compared to the previous session. |
|
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 30 October 2024. 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 |
1310 |
785 |
7230 |
$896 |
7230-7510 |
$896-931 |
59.9% |
|
PPBC |
- |
- |
- |
- |
- |
- |
- |
|
LLDPE |
600 |
600 |
8100 |
$1004 |
8110-8380 |
$1005-1039 |
100.0% |
|
HDPE |
- |
- |
- |
- |
- |
- |
- |
|
*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. |
|||||||
Shenhua auction platform concluded today's session on a weak note. Despite a CNY20/ton discount on homo-PP, market participants were hesitant to increase their purchases, resulting in lower sales volumes compared to the previous session. Meanwhile, Chinese bidders showed greater interest in LLDPE, spurred by a CNY100/ton discount that led to more successful transactions.
As the month-end approaches, market participants remain cautious, adopting a wait-and-see approach while monitoring any shifts in crude oil prices and the futures market that could influence upcoming market dynamics.
Background:
Shenhua Baotou Coal Chemical Co, the largest coal-based polyolefins producer in China, operates through four subsidiaries: 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 boasts an annual production capacity of 2.65 million tons of PP, 750,000 tons of HDPE/LLDPE, and 570,000 tons of LDPE.
Active in spot trading, Shenhua Baotou also conducts daily auctions for its cargoes from 10 AM - 12 PM on its dedicated online platform, available at https://www.e-chnenergy.com.
Written by: Kat Yun Yun
Edited by: Muhammad Hafiz
Country
China
