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22 November 2024 - Shenhua's coal-based PP and PE Auction ResultsThe Shenhua auction platform closed today's session on a strong note, despite a lackluster Dalian Commodity Exchange. The CNY 60/ton price increase did not deter buyers, with LLDPE continuing its upward trajectory, achieving fully sold quantities. |
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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 22 November 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 |
1243 |
1130 |
7220 |
$881 |
7380-7530 |
$901-919 |
79% |
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PPBC |
100 |
99 |
7220 |
$881 |
7220-7230 |
$881-883 |
99% |
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LLDPE |
350 |
350 |
8560 |
$1045 |
8560-8660 |
$1045-1057 |
100% |
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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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The Shenhua auction platform closed today's session on a strong note, despite a lackluster Dalian Commodity Exchange. The CNY 60/ton price increase did not deter buyers, with LLDPE continuing its upward trajectory, achieving fully sold quantities. Meanwhile, purchasing activity for homo-PP remained mediocre, even with a CNY 80/ton discount.
The market indicates that the limited allocation of LLDPE helped support the strong sales, driven by tightening supply in the spot market. As the weekend approaches, market participants are adopting a more cautious approach, anticipating further developments in the upcoming week.
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
