Shenhua Auction: Healthy transactions driven by need-based purchases, absence of alternatives
In the absence of supply from Shandong Yulong, which did not hold its usual auction, Chinese buyers returned to the Shenhua platform to fulfil immediate procurement requirements.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 09 June 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 |
1736 |
1670 |
6950 |
$855 |
6980-7250 |
$859-892 |
96.2% |
|
PPBC Inj |
200 |
100 |
6700 |
$825 |
6700-6710 |
$825-826 |
50.0% |
|
LL Film |
450 |
450 |
7020 |
$864 |
7020-7090 |
$864-873 |
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:
In the absence of supply from Shandong Yulong, which did not hold its usual auction, Chinese buyers returned to the Shenhua platform to fulfil immediate procurement requirements. This shift supported a relatively high level of transactions, particularly for PPH yarn and LLDPE film, despite continued softness in futures trading on the Dalian Commodity Exchange.
A market participant commented, “Buyers continue to seek competitive cargoes to cover immediate production needs. That said, most customers remain highly cautious and are only making minimal purchases. Confidence in the near-term outlook remains low.”
Written: Kat Yun Yun
Edited: Rochelle Nguyen