Sep 21, 2020 5 p.m.

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

Transactions remain strong, especially for homo-PP even at slightly higher price levels.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 15 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

1499

7600

$991

7670-7990

$1000-1041

83.6%

PP Fiber

31

0

8100

$1056

-

-

0.0%

PPBC

-

-

-

-

-

-

-

LLDPE

600

235

7250

$945

7250-7360

$945-959

39.2%

LDPE

-

-

-

-

-

-

-

HDPE

-

-

-

-

-

-

-

*Auction and Deal volumes are in tonnage 

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

 

Transactions remain strong, especially for homo-PP even at slightly higher price levels, signaling that buyers might be returning to make pre-holiday replenishment.  

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