Mar 29, 2024 7:17 a.m.

[FREE] 17 August 2022 - Shenhua's coal-based PP and PE Auction Results

[FREE] 17 August 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 17 August 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

1578

441

7700

$1005

7850-7960

$1025-1039

27.9%

PP Fiber

-

-

-

-

-

-

-

PPBC

132

0

7800

$1018

-

-

0.0%

LLDPE

1100

0

7600

$992

-

-

0.0%

LDPE

-

-

-

-

-

-

-

HDPE

66

0

8000

$1044

-

-

0.0%

*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.

                 

For the third session in a row, Chinese bidders prefer to wait on the sidelines leading to a persistently disappointing auction result for Shenhua’s coal-based cargoes. The electricity rationing is keeping buying appetite among manufacturers sluggish, at least for the next couple of weeks.

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