03 April 2024 - Shenhua's coal-based PP and PE Auction Results
Concluded homo-PP and LLDPE deals on the Shenhua Auction Platform were better today with deals over 98% for each grade in comparison to yesterday’s session.
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 03 April 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 |
1040 |
1020 |
7300 |
$894 |
7380-7550 |
$903-924 |
98.1% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
- |
- |
- |
- |
- |
- |
- |
|
LLDPE |
812 |
801 |
8200 |
$1004 |
8230-8330 |
$1007-1020 |
98.6% |
|
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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Concluded homo-PP and LLDPE deals on the Shenhua Auction Platform were better today with deals over 98% for each grade in comparison to yesterday’s session. The auction platform still closed with favourable outcomes even though homo-PP and LLDPE were dealt at higher prices between CNY20 – 150/ton and CNY30 – 80/ton respectively.
Shenhua will also be on maintenance shutdown scheduled on 15 April 2024 for its 300,000 tons/year PP and 450,000 tons/year FDPE plant. The plants will be offline for roughly around one month. It is anticipated overall price will have strong support in the near term.
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