Shenhua Auction: Shenhua Auction saw uptake surge after reciprocal tariffs on most nations stalled
The Shenhua Auction Platform recorded a sharp pickup in participation, driven by an abrupt improvement in sentiment across the crude oil and futures markets. The shift followed the US government’s surprise 90-day suspension
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 10 April 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 |
1350 |
1350 |
7050 |
$850 |
7130-7280 |
$860-878 |
100.0% |
|
PPBC Inj |
200 |
200 |
6900 |
$832 |
6940-6990 |
$837-843 |
100.0% |
|
LL Film |
800 |
800 |
7300 |
$880 |
7390-7430 |
$891-896 |
100.0% |
|
*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:
The Shenhua Auction Platform recorded a sharp pickup in participation, driven by an abrupt improvement in sentiment across the crude oil and futures markets. The shift followed the US government’s surprise 90-day suspension of reciprocal tariffs for most nations, which tempered macroeconomic pessimism.
In the LLDPE segment, sell-through jumped from 0% in the previous session to solid, supported by a CNY100/ton discount that drew improved interest. Meanwhile, a 110-ton increase in PP allocations did not deter buyers from absorbing all 1,350 tons available.
“However, it is likely that the day’s strong performance reflects sentiment rather than fundamentals,” one market participant warned. “With most already having already restocked, any reversal in macro sentiment could quickly drag demand down again.”
Meanwhile, market participants remained cautious over the US government’s tariff stance on China—the only nation still subject to reciprocal measures, following its decision to retaliate.
Written by: Kat Yun Yun
Edited by: Derek Yong