May 28, 2022 3:10 p.m.

[FREE] 19 January 2022 - Shenhua's coal-based PP and PE Auction Results

Transactions remain strong on the Shenhua auction platform with arbitrage traders actively scouting for competitive cargoes amid the rising futures market.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 19 January 2022. The following table showed the details of the auction results for prime grade only: 

Product

Auction Volume

Deal Volume

Auction Prices

Deal Prices

Deal %

CNY/ton

USD/ton

CNY/ton

USD/ton

Combined and reported by CommoPlast

Homo-PP

2050

2050

8100

$1129

8250-8540

$1150-1190

100.0%

PP Fiber

-

-

-

-

-

-

-

PPBC

100

99

8000

$1115

8010-8020

$1116-1118

99.0%

LLDPE

550

550

8480

$1182

8570-8850

$1194-1233

100.0%

LDPE

-

-

-

-

-

-

-

HDPE

200

199

8100

$1129

8220-8450

$1146-1178

99.5%

*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.

                 

Transactions remain strong on the Shenhua auction platform with arbitrage traders actively scouting for competitive cargoes amid the rising futures market.  

Background

Shenhua Baotou Coal Chemical Co is currently the largest coal-based polyolefins producer in China, operating under four subsidiaries, namely: 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 has an annual capacity of 2.65 million tons/year of PP, 750,000 tons/year of HDPE/LLDPE and 570,000 tons/year of LDPE.

Shenhua Baotou Coal Chemical Co is active in spot trading, while also conducting the daily auction for its cargoes daily between 10AM to 12PM on the official online platform that specifically designed for this purpose: https://www.e-chnenergy.com

Country

China