19 October 2022 - Shenhua's coal-based PP and PE Auction Results
19 October 2022 - Shenhua's coal-based PP and PE Auction Results
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 18 October 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 |
2300 |
300 |
7550 |
$925 |
7850-7960 |
$962-976 |
13.0% |
|
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
|
PPBC |
- |
- |
- |
- |
- |
- |
- |
|
|
LLDPE |
900 |
321 |
7800 |
$956 |
7800-8340 |
$956-1022 |
35.7% |
|
|
LDPE |
- |
- |
- |
- |
- |
- |
- |
|
|
HDPE |
- |
- |
- |
- |
- |
- |
- |
|
|
*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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For the second trading day in a row, Shenhua steps back on deal prices for both coal-based homo-PP and LLDPE cargoes, still, the buying interest remains relatively thin.
Chinese buyers continue to wait on the sideline to monitor the outcomes of the Congress Meeting, also for the latest round of COVID-19-related lockdowns to ease.
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