Mar 29, 2024 9:49 a.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 23 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

2143

694

7650

$997

7820-8000

$1019-1043

32.4%

PP Fiber

-

-

-

-

-

-

-

PPBC

100

0

7820

$1019

-

-

0.0%

LLDPE

712

82

7130

$929

7250

$945

11.5%

LDPE

-

-

-

-

-

-

-

HDPE

100

0

7900

$1030

-

-

0.0%

*Auction and Deal volumes are in tonnage 

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

 

Chinese bidders are becoming less active in the market despite the fact that the National Day holiday is just around the corner, which signifies the possibility that customers might have stocked up comfortable inventories and would pre to avoid price risk amid piling concerns over the macro-economic issue. 

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