Sep 21, 2020 5:28 p.m.

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

Players remains hopeful that buyers would return to make another round of replenishment before the long holiday.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 14 September 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

1792

1069

7600

$985

7750-7960

$1004-1031

59.7%

PP Fiber

31

0

8100

$1050

-

-

0.0%

PPBC

84

84

7900

$1024

7920-7930

$1026-1027

100.0%

LLDPE

600

505

7210

$934

7210-7850

$934-1017

84.2%

LDPE

-

-

-

-

-

-

-

HDPE

-

-

-

-

-

-

-

*Auction and Deal volumes are in tonnage 

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

 

There has been some improvement in terms of both availability and deals at the beginning of the week. Players remain hopeful that buyers would return to make another round of replenishment before the long holiday.  

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