China: Auction sales result for Shenhua's coal-based PP and PE
China: Auction sales result for Shenhua's coal-based PP and PE
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 24 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 |
1702 |
130 |
6750 |
$850 |
6900-7000 |
$869-881 |
8% |
|
|
PPBC |
75 |
0 |
8000 |
$1007 |
- |
- |
0% |
|
|
LLDPE |
500 |
0 |
6900 |
$869 |
- |
- |
0% |
|
|
LDPE |
450 |
70 |
7400 |
$932 |
7650 |
$963 |
16% |
|
|
HDPE |
350 |
73 |
6700 |
$843 |
6700-6850 |
$843-862 |
21% |
|
|
*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 |
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Transactions on the auction platform this morning once again dropped significantly due to the renewed concerns over the COVID-19 outbreak among buyers. However, there is still strong hope that sentiment would improve in the coming days as more companies have returned to work.
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.