Apr 04, 2020 7:37 a.m.

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

Shenhua Baotou Coal Chemical Co is currently the largest coal-based polyolefins producer in China, operates under four subsidiaries.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 26 March 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

3377

60

6250

$778

6350-6500

$790-809

1.8%

PPBC

1488

32

6780

$844

6950

$865

2.1%

LLDPE

1128

10

6100

$759

6200

$772

0.9%

LDPE

200

0

6850

$853

-

-

0%

HDPE

500

23

6150

$765

6400

$797

4.6%

*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

                 

The positive sentiment observed on the Shenhua Auction platform in the previous trading day quickly dissolve this morning, leaving the session with a very limited number of deals no thanks to the plunging futures market. 

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