Shenhua Auction: Auction sales deteriorate as futures markets soften
Trading sentiment on the Shenhua Auction Platform weakened further, weighed down by sharp losses on the Dalian Commodity Exchange. In response, the coal-based producer lowered auction prices for both homo-PP and LLDPE by CNY30/ton from the previous session.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 12 March 2025, with the results for prime grades as follows:
|
Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
||
|
CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
||||
|
Combined and reported by CommoPlast |
|||||||
|
PPH Yarn |
1670 |
567 |
7050 |
$863 |
7050-7340 |
$863-898 |
34.0% |
|
PPH Inj |
168 |
46 |
7050 |
$863 |
7050 |
$863 |
27.4% |
|
LL Film |
940 |
0 |
7920 |
$969 |
- |
- |
0.0% |
|
*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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Auction platform: https://www.e-chnenergy.com
Auction time: Monday – Friday, 10 AM – 12 PM
Key takeaways:
Trading sentiment on the Shenhua Auction Platform weakened further, weighed down by sharp losses on the Dalian Commodity Exchange. In response, the coal-based producer lowered auction prices for both homo-PP and LLDPE by CNY30/ton from the previous session.
Market caution was evident as buyers scaled back purchases, with homo-PP yarn procurement plummeting 39.5% from the prior session. Meanwhile, demand for LLDPE film was virtually non-existent, highlighting a persistent weakness in the broader domestic market.
Written by: Kat Yun Yun
Edited by: Derek Yong