Mar 29, 2024 2:33 a.m.

[FREE] 28 September 2022 - Shenhua's coal-based PP and PE Auction Results

[FREE] 28 September 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 28 September 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

1408

1158

7800

$956

7800-8300

$956-1017

82.2%

PP Fiber

-

-

-

-

-

-

-

PPBC

-

-

-

-

-

-

-

LLDPE

450

449

8060

$988

8060-8380

$988-1027

99.8%

LDPE

-

-

-

-

-

-

-

HDPE

80

80

8060

$988

8060-8080

$988-990

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.

                 

Trading activities on the Shenhua auction platform improved significantly by mid of the week after the producer stepped back on the deal prices for both PP and PE cargoes. Market sources attributed the strong percentage of deals to the smaller-than-usual allocation, especially for PE.

Background

Shenhua Baotou Coal Chemical Co is currently the largest coal-based polyolefins producer in China, operates 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