07 June 2024 - Shenhua's coal-based PP and PE Auction Results
The coal-based producer expectedly maintained auction prices unchanged from the previous day, which appeals to local buyers amid the continued rising futures contracts on the Dalian Commodity Exchange.
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 07 June 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 |
1866 |
1826 |
7450 |
$909 |
7540-7830 |
$920-956 |
97.9% |
|
PP Thinwall |
57 |
57 |
7800 |
$952 |
7870 |
$961 |
100.0% |
|
PPBC |
310 |
110 |
7900 |
$964 |
8150 |
$995 |
35.5% |
|
LLDPE |
1100 |
1100 |
8300 |
$1013 |
8340-8480 |
$1018-1035 |
100.0% |
|
LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
|
HDPE |
280 |
113 |
8300 |
$1013 |
8300-8500 |
$1013-1038 |
40.4% |
|
*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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Except for PP block copolymer and HDPE, Shenhua’s auction session ended the final trading day of the week on a rather strong note. The coal-based producer expectedly maintained auction prices unchanged from the previous day, which appeals to local buyers amid the continued rising futures contracts on the Dalian Commodity Exchange.
Stronger futures contracts usually push auction prices higher.
“Customers attempted to secure additional cargoes before the holiday. We think the downswing has reached the cyclical bottom and the market might track a stable trend in the coming week,” said, a 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