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Shenhua Auction: Buyers kept to the sidelines in spite of appealing auction pricesThe weak performance of the Shenhua Auction Platform reflected persistent sluggishness in the domestic spot market. A lack of confidence in the near-term outlook kept buyers on the sidelines, even as current price levels appeared increasingly attractive. |
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Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 18 March 2025, with the results for prime grades as follows:
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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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PPH Yarn |
1450 |
895 |
7120 |
$871 |
7120-7310 |
$871-895 |
61.7% |
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PPH Inj |
200 |
0 |
7050 |
$863 |
- |
- |
0.0% |
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LL Film |
1126 |
200 |
7900 |
$967 |
7910 |
$968 |
17.8% |
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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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Auction platform: https://www.e-chnenergy.com
Auction time: Monday – Friday, 10 AM – 12 PM
Key takeaways:
Despite the government's recent efforts to stimulate economic growth, the Dalian Commodity Exchange continued its downward trajectory, with key PP and LLDPE contracts extending their losses. The bearish sentiment weighed heavily on the coal-based auction results, with LLDPE experiencing a more pronounced decline than other grades.
The weak performance of the Shenhua Auction Platform reflected persistent sluggishness in the domestic spot market. A lack of confidence in the near-term outlook kept buyers on the sidelines, even as current price levels appeared increasingly attractive.
Written by: Kat Yun Yun
Edited by: Rochelle Nguyen
Country
China
