Mar 29, 2024 7:28 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 05 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

1916

967

7350

$935

7350-7860

$935-999

50.5%

PP Fiber

50

50

8000

$1017

8250

$1049

100.0%

PPBC

0

0

-

-

-

-

-

LLDPE

1016

742

7000

$890

7040-7400

$895-941

73.0%

LDPE

50

0

8600

$1093

-

-

0.0%

HDPE

200

191

7200

$915

7270-7280

$924-926

95.5%

*Auction and Deal volumes are in tonnage 

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

                 

Chinese bidders appear to lack interest in the homo-PP cargoes as prices inched slightly higher than the previous day. In the meantime, transactions for other grades remain healthy.  

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