Mar 29, 2024 3:25 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 28 July 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

2292

1989

7250

$917

7420-7740

$938-979

86.8%

PP Fiber

356

92

7700

$973

7750

$980

25.8%

PPBC

70

70

7750

$980

7920-7930

$1001-1003

100.0%

LLDPE

800

600

7050

$891

7070-7110

$894-899

75.0%

LDPE

100

99

8250

$1043

8250-8570

$1043-1083

99.0%

HDPE

350

193

6950

$879

6970-7150

$881-904

55.1%

*Auction and Deal volumes are in tonnage 

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

                 

Local sentiment continues to see improvement with deals recorded on the Shenhua auction platform for coal-based cargoes remain strong. 

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