Mar 28, 2024 11:37 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 15 January 2021. 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

2031

1731

7400

$1012

7640-8040

$1045-1100

85.2%

PP Fiber

-

-

-

-

-

-

-

PPBC

250

100

7650

$1046

8140-8150

$1113-1115

40.0%

LLDPE

1004

764

7380

$1009

7380-7800

$1009-1067

76.1%

LDPE

100

32

10550

$1443

10550

$1443

32.0%

HDPE

-

-

-

-

-

-

-

*Auction and Deal volumes are in tonnage 

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

 

Sentiment on the auction platform remains active on the final trading day of the week with a satisfactory number of deals recorded. However, the producer reduces the auction volume for homo-PP substantially from the previous days. 

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