Sep 21, 2020 5:09 p.m.

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

Transactions remain satisfactory on the auction platform this morning while the producer allocated a very small PE quantity for bidding.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 16 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

2042

1550

7550

$987

7760-7960

$1014-1041

75.9%

PP Fiber

31

31

8050

$1052

8100

$1059

100.0%

PPBC

-

-

-

-

-

-

-

LLDPE

600

95

7170

$937

7170-7300

$937-954

15.8%

LDPE

-

-

-

-

-

-

-

HDPE

-

-

-

-

-

-

-

*Auction and Deal volumes are in tonnage 

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

 

Transactions remain satisfactory on the auction platform this morning while the producer allocated a very small PE quantity for bidding. Players hope that buyers are in the mood for another round of replenishment soon.

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