Aug 08, 2020 5:30 a.m.

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

The government has announced a series of promotional and festive plans that aim to spur domestic consumption moving forward amid falling export orders.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 29 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

1692

1200

7250

$917

7400-7750

$936-980

70.9%

PP Fiber

456

200

7700

$973

7770-7970

$982-1008

43.9%

PPBC

0

0

-

-

-

-

-

LLDPE

668

534

7100

$898

7140-7400

$903-936

79.9%

LDPE

50

50

8600

$1087

8610-8620

$1089-1090

100%

HDPE

250

250

7000

$885

7000-7150

$885-904

100%

*Auction and Deal volumes are in tonnage 

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

 

Chinese bidders continue to hold a positive expectation for the market outlook following the government’s announcement pertaining to a series of plans to spur domestic consumption moving forward. 

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