CommoPlast Article

Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 14 April 2025, with the results for prime grades as follows:

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*
PPH Yarn	1150	1149	7000	$847	7040-7290	$852-883	99.9%
PPBC Inj	231	100	6950	$841	6950-6960	$841-843	43.3%
LL Film	770	700	7300	$884	7380-7430	$893-899	90.9%
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 the session on a stronger footing compared to the previous session, buoyed by a morning rebound on the Dalian Commodity Exchange. The producer’s strategic pricing—adjusted to account for differing strength across futures market grades—further supported the drawdowns.

In the PP segment, Shenhua responded to the comparatively more modest rebound of PP futures contracts than LLDPE by implementing a targeted CNY80/ton reduction. The move was well received, with uptake rates remaining above 90% for the third consecutive session.

Meanwhile, the LLDPE segment saw a more pronounced improvement, with procurement volumes jumping from 58.4% in the prior session to 90.9%.

“The domestic spot and futures markets appear to be stabilising following a week of macroeconomic volatility,” a market participant explained. “This has lent buyers the confidence to return for need-based replenishment.”

Shenhua Auction: Sales climbed as futures uptick signalled tentative market stabilisation