Mar 29, 2024 6:56 a.m.

[FREE] 29 June 2022 - Shenhua's coal-based PP and PE Auction Results

[FREE] 29 June 2022 - Shenhua's coal-based PP and PE Auction Results

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 29 June 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

1016

916

8150

$1076

8180-8510

$1080-1124

90.2%

PP Fiber

50

0

8650

$1143

-

-

0.0%

PPBC

-

-

-

-

-

-

-

LLDPE

1166

600

8300

$1096

8450-8490

$1116-1121

51.5%

LDPE

-

-

-

-

-

-

-

HDPE

33

33

8600

$1136

8750

$1156

100.0%

*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.

                 

Regardless of the drop in the futures market, Chinese bidders remain interested in coal-based homo-PP cargoes on the Shenhua auction platform this morning. Meanwhile, LLDPE continues to face weak demand compared to other grades.

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