Jun 20, 2021 12:11 a.m.

14 May 2021: Auction sales result for Shenhua's coal-based PP and PE

Transactions fell substantially on the final trading day of the week in spite of the lower deal prices compared to the previous day.

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

1744

463

8500

$1168

8500-8850

$1168-1216

26.5%

PP Fiber

-

-

-

-

-

-

-

PPBC

66

0

8650

$1189

-

-

0.0%

LLDPE

893

161

8050

$1106

8050-8550

$1106-1175

18.0%

LDPE

96

0

10350

$1422

-

-

0.0%

HDPE

-

-

-

-

-

-

-

*Auction and Deal volumes are in tonnage

*All USD equivalent prices only exclude the 13% value-added tax (VAT). They have not taken into account other costs that might incur in the selling process, i.e. import duty, customs clearances.

 

Transactions fell substantially on the final trading day of the week in spite of the lower deal prices compared to the previous day. The plunge in the energy complex hampered sentiment.

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