CommoPlast Article

Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 13 November 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 %
Product	Auction Volume	Deal Volume	CNY/ton	USD/ton	CNY/ton	USD/ton	Deal %
*Combined and reported by CommoPlast*
Homo-PP	1100	100	7100	$870	7110-7480	$871-917	100%
PPBC	50	50	7750	$950	7750	$950	100%
LLDPE	500	500	8200	$1005	8280-8440	$1015-1034	100%
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.

The Shenhua Auction Platform concluded today’s session on a strong note, buoyed by a substantial rebound in the futures market on the Dalian Commodity Exchange (DCE). Chinese bidders regained confidence, driving increased buying activity despite a CNY 50/ton price hike for both PP and LLDPE materials.

However, the sustainability of this bullish trend remains in question. Looking ahead, one trader remarked, “While the immediate response has been positive, we are closely monitoring market developments to determine whether this momentum can be maintained in the coming days.”

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.

13 November 2024 - Shenhua's coal-based PP and PE Auction Results