Mar 29, 2024 8:11 p.m.

30 March 2023 - Shenhua's coal-based PP and PE Auction Results

The plunge in purchasing activities is seen as a testimony that buyers have restocked sufficiently and prefer to wait on the sideline amid the weaker temperamental Dalian Commodity Exchange.

Title

Available in

Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 30 March 2023. 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

2540

290

7380

$947

7380-7650

$947-981

11.4%

PP Fiber

-

-

-

-

-

-

-

PPBC

-

-

-

-

-

-

-

LLDPE

960

450

8080

$1036

8080-8230

$1036-1056

46.9%

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.


Compared to the previous session, the number of transactions concluded on the Shenhua auction platform fell sharply on the final trading day of the month. The plunge in purchasing activities is seen as a testimony that buyers have restocked sufficiently and prefer to wait on the sideline amid the weaker temperamental Dalian Commodity Exchange. 

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

Country

China