Mar 28, 2024 10:12 p.m.

China: Auction sales result for Shenhua's coal-based PP and PE

China: Auction sales result for Shenhua's coal-based PP and PE

Title

HD Film (CTO/MTO) LD Film (CTO/MTO) LL C4 Film (CTO/MTO) PPBC Inj (CTO/MTO) PPH Inj (CTO/MTO) PPH Raf (CTO/MTO)

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 11 December 2019. The following table showed the details of the auction results for prime grade only:

Product

Auction Volume

Deal Volume

Auction Prices

Deal Prices

Deal %

CNY/ton

USD/ton

CNY/ton

USD/ton

Combined and reported by CommoPlast

Homo-PP

1983

627

7750

$974

7930-8050

$997-1012

32%

PPBC

605

30

8000

$1006

8250-9100

$1037-1144

5%

LLDPE

800

486

6970

$876

7100-7260

$893-913

61%

LDPE

50

0

8020

$1008

-

-

0%

HDPE

0

0

-

-

-

-

0%

*Auction and Deal volumes are in tonnage 

*All prices in CNY are included of 13% VAT rate and based on EXW China term

*All USD equivalent prices are excluded of 13% VAT rate

                 

Purchasing interest among Chinese bidders remains sluggish this morning, reflected in the weak auction results for Shenhua coal-based cargoes.

Background

Shenhua Baotou Coal Chemical Co is currently the largest coal-based polyolefins producer in China, operates under four subsidiaries, namely: Shenhua Xinjiang Coal-based New Materials Project, Shenhua Yulin Energy Co Ltd, Shenhua Baotou Coal Chemical Co Ltd and Shenhua Ningxia Coal Industry Group (Ningmei).

The company has an annual capacity of 2.65 million tons/year of PP, 750,000 tons/year of HDPE/LLDPE and 570,000 tons/year of LDPE.

Shenhua Baotou Coal Chemical Co is active in spot trading, while also conducting the daily auction for its cargoes daily between 10AM to 12PM on the official online platform that specifically designed for this purpose: https://www.e-shenhua.com  

 

Country

China