Shenhua Auction: Auction sales dwindle, mirroring subdued futures sentiments
The Shenhua Auction Platform opened on a steady note, initially reflecting a modest rebound in early-session trading on the Dalian Commodity Exchange. However, buying interest turned increasingly cautious as futures performance softened toward the mid-day break.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 17 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 |
1380 |
919 |
7120 |
$870 |
7140-7330 |
$873-896 |
66.6% |
|
PPH Inj |
100 |
0 |
7150 |
$874 |
- |
- |
0.0% |
|
LL Film |
826 |
249 |
7920 |
$968 |
7970-8250 |
$974-1008 |
30.1% |
|
*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:
The Shenhua Auction Platform opened on a steady note, initially reflecting a modest rebound in early-session trading on the Dalian Commodity Exchange. However, buying interest turned increasingly cautious as futures performance softened toward the mid-day break.
Reflecting the restrained sentiment, both LLDPE and homo-PP cargoes saw reduced acceptance rates compared to the previous session. Homo-PP cargoes registered a sharp decline, slipping to 66.6% from 93.5% previously. Meanwhile, LLDPE cargoes experienced a more notable drop to 30.1% from 66.2%, tracking the weakness of LLDPE futures contracts relative to PP.
“Buyers showed little willingness to commit to the current price levels, given the weakness in the wider domestic market,” one producer commented. “Several discounts were noted in the spot market this morning, and even then, demand remained subdued.”
Written by: Kat Yun Yun
Edited by: Derek Yong