Jun 20, 2021 12:01 a.m.

10 June 2021: Auction sales result for Shenhua's coal-based PP and PE

The number of transactions on the Shenhua Auction platform remains mediocre although prices hardly changed from the previous session.

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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 10 June 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

1178

618

8200

$1137

8210-8370

$1139-1161

52.5%

PP Fiber

-

-

-

-

-

-

-

PPBC

66

10

8320

$1154

8320

$1154

15.2%

LLDPE

606

60

7500

$1040

7600-7980

$1054-1107

9.9%

LDPE

50

30

9550

$1325

9550

$1325

60.0%

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.

 

The number of transactions on the Shenhua Auction platform remains mediocre although prices hardly changed from the previous session. Market players continue to monitor the movement closely after an abrupt pick-up in buying activities reported the day before. 

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