Shenhua Auction: Remaining cargoes sold after discounts; firm outlook expected in the post-holiday
Shenhua concluded the final auction session of 2025 with a full sell-through of all offered parcels. The result follows a multi-day standoff between the producer and the market, finally resolved through a combination of firmer futures-led sentiment and strategic price concessions.
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction 30 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 |
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|
PPBC Inj |
57.02 |
57.02 |
6320 |
$800 |
6320 |
$800 |
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 concluded the final auction session of 2025 with a full sell-through of all offered parcels. The result follows a multi-day standoff between the producer and the market, finally resolved through a combination of firmer futures-led sentiment and strategic price concessions. The remaining 57.02 tons of PPBC injection, which had seen no takers since late last week, were successfully cleared after cumulative discounts of CNY 70/ton from the initial offer levels.
The rebound in PP and linear LLDPE futures on the Dalian Commodity Exchange (DCE) provided the necessary catalyst for the session’s success. The improved tone on the exchange lent support to physical market sentiment, encouraging buyers to finalise procurement for the final remaining lots.
Industry observers pointed to a notable reduction in selling pressure as a primary driver for the 100% deal rate. With most major suppliers having successfully depleted their year-end sales quotas, the tightening spot availability incentivised remaining buyers to secure the minimal lots on offer. "The combination of the futures floor and the realisation that primary 2025 allocations are exhausted triggered this late-stage commitment," a local player observed.
The focus of the market has now shifted decisively toward the post-holiday period. Industry observers expect Shenhua’s auction prices to return to a firmer footing once trading resumes in January 2026. This expectation is underpinned by limited near-term supply pressure and the anticipation of renewed allocation strategies for the new fiscal year.
Participants remain watchful of the sustainability of the DCE futures rally, which will be the primary determinant of whether the market can maintain this firmer trajectory as it transitions into the first quarter of 2026.
Written by: Kat Yun Yun
Edited by: Aiman Haikal