Sep 21, 2020 5:39 p.m.

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

The number of deals recorded on the Shenhua Auction Platform this morning remains satisfactory despite the fact that prices have inched slightly higher.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 04 August 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

1972

1744

7250

$919

7300-7830

$926-993

88.4%

PP Fiber

50

42

7950

$1008

7960

$1009

84%

PPBC

116

66

7700

$976

7760

$984

56.9%

LLDPE

1016

781

6960

$882

6960-7400

$882-938

76.9%

LDPE

0

0

-

-

-

-

-

HDPE

200

200

7150

$907

7250-7260

$919-920

100%

*Auction and Deal volumes are in tonnage 

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

                 

The number of deals recorded on the Shenhua Auction Platform this morning remains satisfactory despite the fact that prices have inched slightly higher than the previous day. A similar sentiment is expected in the spot ground. 

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