16 May 2024 - Shenhua's coal-based PP and PE Auction Results
As the momentum gets going, today’s results on the Shenhua Auction Platform were much favourable than on Wednesday particularly for homo-PP and PPBC with higher deal volume
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 16 May 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 |
1550 |
7330 |
$898 |
7360-7640 |
$902-936 |
100.0% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
486.5 |
486.5 |
7650 |
$938 |
7650-7970 |
$938-977 |
100.0% |
|
LLDPE |
900 |
777 |
8300 |
$1017 |
8310-8450 |
$1019-1036 |
86.3% |
|
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 the momentum gets going, today’s results on the Shenhua Auction Platform were much favourable than on Wednesday particularly for homo-PP and PPBC with higher deal volume and closing 100% deal rate.
Local traders, having exhausted efforts in pushing sales, are now adopting a wait-and-see stance for the upcoming week. With the month-end approaching, anticipation arises for challenges in depleting cargoes once again. “We hope to see more price movements to stimulate buying activity,” remarked a local buyer.
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