Shenhua Auction: Tight year-end supply and firmer futures drive full sell-through
Shenhua’s year-end auction demonstrated robust market appetite, with all lots achieving full sell-through. Stronger futures activity, coupled with rising spot prices, bolstered the competitiveness of coal-based PP and PE cargoes.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 25 December 2025, posting strong results across all prime grades:
|
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 |
402.9 |
402.9 |
5850 |
$740 |
5850-6120 |
$740-774 |
100.0% |
|
PPBC Inj |
1.1 |
1.1 |
6040 |
$764 |
6040 |
$764 |
100.0% |
|
LL Film |
300 |
300 |
6200 |
$784 |
6200 |
$784 |
100.0% |
|
LD Film |
13.7 |
13.7 |
7800 |
$986 |
7800 |
$986 |
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:
Shenhua’s year-end auction demonstrated robust market appetite, with all lots achieving full sell-through. Stronger futures activity, coupled with rising spot prices, bolstered the competitiveness of coal-based PP and PE cargoes.
“While domestic spot prices advanced CNY 50–100/ton, Shenhua lowered homo-PP auction prices by CNY 110/ton, creating a notable price gap between the auction and spot markets,” a buyer observed. “This naturally drew buyers toward more competitively priced parcels.”
Transaction momentum was further supported by the limited volume on offer, as the producer accelerates year-end closing ahead of 2026. Market attention now shifts to the durability of the futures rally, which will be a key determinant of whether current strong demand and full sell-through rates can be sustained in the remainder of 2025.
Written by: Kat Yun Yun
Edited by: Rochelle Nguyen