Mar 28, 2024 8:56 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

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 21 February 2020. 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

1764

265

6750

$850

6800-7000

$856-881

15%

PPBC

75

0

8000

$1007

-

-

0%

LLDPE

500

32

6900

$869

6900

$869

6%

LDPE

400

150

7400

$932

7550-7670

$950-966

38%

HDPE

300

10

6750

$850

6900

$869

3%

*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

                 

Following three consecutive sessions of improvement, purchasing interest in the local ground seems to loosen on the final trading day of the week, reflected in the significant drop in the number of deals on the auction platform.

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