Aug 08, 2020 4:57 a.m.

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

Toward the end of the week, auction volume dropped significantly from the previous trading day, yet the sales results remain below expectation.

Title

Available in

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

992

674

7250

$917

7350-7780

$929-984

67.9%

PP Fiber

356

98

7700

$973

7870-7970

$995-1008

27.5%

PPBC

0

0

-

-

-

-

-

LLDPE

350

132

7150

4904

7160-7250

$905-917

37.7%

LDPE

0

0

-

-

-

-

-

HDPE

100

93

7000

$885

7030-7210

$889-912

93%

*Auction and Deal volumes are in tonnage 

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

 

Toward the end of the week, auction volume dropped significantly from the previous trading day, yet the sales results remain below expectations. 

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