Jul 07, 2020 10:11 a.m.

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

Both homo-PP and PE cargoes enjoy a healthy purchasing interest following a sluggish start at the beginning of the week.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 30 Jun 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

2032

1734

7400

$926

7490-7720

$938-966

85.3%

PP Fiber

288

0

7700

$964

-

-

0%

PPBC

287

87

7900

$989

7960

$996

30.3%

LLDPE

600

599

6650

$832

6710-6900

$840-864

99.8%

LDPE

0

0

-

-

-

-

-

HDPE

32

32

6800

$851

6910

$865

100%

*Auction and Deal volumes are in tonnage 

*All USD equivalent prices only exclude the 13% value-added tax (VAT)

                 

Transaction on the auction platform pick up drastically following a sluggish start at the beginning of the week. Both homo-PP and PE cargoes enjoy a healthy purchasing interest.

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, i.e. import duty, customs clearances.

Country

China