19 April 2024 - Shenhua's coal-based PP and PE Auction Results
Despite a marginally higher auctioned volume for PPBC and LLDPE compared to the previous session, the platform echoed a strong note akin to the Dalian Commodity Exchange.
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 19 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 |
1386 |
1386 |
7450 |
$911 |
7550-7690 |
$923-940 |
100.0% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
250 |
250 |
7650 |
$935 |
7700-7800 |
$941-953 |
100.0% |
|
LLDPE |
800 |
800 |
8260 |
$1010 |
8320-8460 |
$1017-1034 |
100.0% |
|
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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The recent auction on the Shenhua Auction Platform showcased a remarkable achievement with all materials achieving a 100% concluded rate. Despite a marginally higher auctioned volume for PPBC and LLDPE compared to the previous session, the platform echoed a strong note akin to the Dalian Commodity Exchange.
Local producers maintained firm offers, prompting buyers to prioritize auctioned goods despite higher prices for homo-PP, ranging between CNY30 – 70/ton.
“We are still vigilantly monitoring the market amid concerns on temporary easing of tensions in the Middle East impacting prices in the near term,” shared a local trader.
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