Shenhua Auction: Results improve amid cautious sentiment
After several sessions of sluggish trading, Shenhua’s latest auction yielded relatively positive results, buoyed by a rebound in Dalian Commodity Exchange futures.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 29 May 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 |
950 |
696 |
6950 |
$854 |
7040-7140 |
$8865-878 |
73.3% |
|
PPBC Inj |
711 |
522 |
6700 |
$824 |
6700-7250 |
$824-891 |
73.4% |
|
LL Film |
270 |
200 |
7050 |
$867 |
7050 |
$867 |
74.1% |
|
*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. |
|||||||
Auction platform: https://www.e-chnenergy.com
Auction time: Monday – Friday, 10 AM – 12 PM
Key takeaways:
After several sessions of sluggish trading, Shenhua’s latest auction yielded relatively positive results, buoyed by a rebound in Dalian Commodity Exchange futures. A combination of lower auction volumes and softer deal prices compared to the previous day helped stimulate buyer participation.
Yet, sentiment on the ground remains tentative. “Everyone is proceeding with caution. If spot LLDPE film prices fall below the CNY 7,000/ton threshold, auction volumes could be severely impacted,” one trader commented. The source further noted that expectations for June remain subdued, with post-holiday inventory pressure discouraging aggressive restocking.
Written: Kat Yun Yun
Edited: Rochelle Nguyen