29 March 2024 - Shenhua's coal-based PP and PE Auction Results
As today marks the final trading session of the month, not many cargoes were auctioned off on the Shenhua Auction Platform. At first glance, concluded deals for homo-PP seemed good but compared to Thursday, concluded deals dropped
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 29 March 2024. 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 |
1550 |
1437 |
7150 |
$875 |
7150-7430 |
$875-909 |
92.7% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
- |
- |
- |
- |
- |
- |
- |
|
LLDPE |
700 |
466 |
8000 |
$979 |
8100-8140 |
$991-996 |
66.6% |
|
LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
|
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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As today marks the final trading session of the month, not many cargoes were auctioned off on the Shenhua Auction Platform. At first glance, concluded deals for homo-PP seemed good but compared to Thursday, concluded deals dropped 266 tons and dealt prices were between CNY10 – CNY60/ton lower.
Market participants hoped for a better 3-day outlook next week prior to the Tomb Sweeping Day with ad-hoc replenishments which would support the market sentiment.
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