Shenhua Auction: Sales held robust despite softer futures
The Shenhua Auction Platform found limited room for a price rebound as softer energy and futures markets weighed on sentiment.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 22 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 |
1170 |
1149 |
7050 |
$853 |
7100-7280 |
$860-881 |
98.2% |
|
PPBC Inj |
300 |
200 |
6850 |
$829 |
7130-7140 |
$863-864 |
66.7% |
|
LL Film |
600 |
500 |
7250 |
$878 |
7320-7440 |
$886-901 |
83.3% |
|
*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 found limited room for a price rebound as softer energy and futures markets weighed on sentiment. Nonetheless, ongoing needs-based purchases continued to underpin a degree of demand, keeping overall sell-throughs at relatively elevated levels.
In the homo-PP yarn segment, the sell-through rate edged down slightly to 98.2%, though this was still considered firm, particularly in light of a 160-ton increase in auction volumes.
Meanwhile, LLDPE uptake improved from 76.2% to 83.3%, yet continued to trail the homo-PP yarn division amid weaker spot fundamentals.
However, with the Labour Day holiday just eight days away, the likelihood of heavy restocking remained limited—raising questions over the potential market outlook following the extended break.
Written by: Kat Yun Yun
Edited by: Derek Yong