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Shenhua Auction: Limited volumes, muted buying as holiday beginsMarket activity slowed further in the afternoon as many players had already wrapped up transactions for the month. |
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Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its 30 September auction with subdued results, as converters largely stepped back ahead of the Golden Week holiday.
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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 |
700 |
100 |
6700 |
$833 |
6700 |
$833 |
14.3% |
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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
Shenhua’s final auction before the long holiday underscored the subdued tone across the polyolefin complex, with only a small fraction of homo-PP yarn clearing. No lower-priced lots were made available, leaving demand muted despite limited supply.
On the Dalian Commodity Exchange, PP and LLDPE futures traded sluggishly during the morning session, reinforcing the cautious mood. Market activity slowed further in the afternoon as many players had already wrapped up transactions for the month.
“With today being the last trading day before the holiday, most sellers have already completed their allocations,” a local trader said. “Participants prefer to stay on the sidelines until post-holiday signals emerge. Confidence remains low.”
Sentiment is expected to stay muted during the break, with near-term direction hinging on how inventories are digested once trading resumes in early October.
Written: Kat Yun Yun
Edited: Aiman Haikal
Country
China
