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 03 Jun 2020. The following table showed the details of the auction results for prime grade only: 

Transactions on the auction platform soften slightly compared to the previous trading day as buyers find it more challenging to accept the continuous hike. A similar sentiment is observed in the spot 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

**Note: 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.