Shenhua Auction: Lower offers, firmer futures spark interest but overall buying appetite remains restrained
Shenhua offered both homo-PP yarn and LLDPE film at CNY 140–200/ton below last Friday’s levels, encouraging steady but selective buying.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction 01 December 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 |
1700 |
1643 |
6000 |
$751 |
6020-6320 |
$754-791 |
96.6% |
|
PPH Inj |
100 |
0 |
6150 |
$770 |
- |
- |
0.0% |
|
PPBC |
66 |
0 |
6000 |
$751 |
- |
- |
0.0% |
|
LL Film |
450 |
250 |
6500 |
$814 |
6620-6790 |
$829-850 |
55.6% |
|
*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
Homo-PP yarn continued to outperform LLDPE film at Shenhua’s latest auction, with most purchases driven by immediate replenishment needs. PP and LLDPE futures on the Dalian Commodity Exchange traded slightly firmer in a range-bound pattern during the morning session, extending last Friday’s rebound for the second consecutive session and offering modest support to the physical market.
Shenhua offered both homo-PP yarn and LLDPE film at CNY 140–200/ton below last Friday’s levels, encouraging steady but selective buying. In contrast, homo-PP injection and block copolymer grades attracted no deals, underscoring subdued interest at prevailing prices.
Market participants remained cautious at the start of the month, weighing the firmer futures backdrop against ongoing efforts to secure more competitive domestic prices. Overall sentiment stayed defensive, with buying concentrated on discounted cargoes and near-term demand rather than speculative activity.
Written by: Kat Yun Yun
Edited by: Aiman Haikal