Renewed US-Iran hostilities have kept traders on edge, and talks between Oman and Iran over a corridor along the Hormuz route have done little to allay concern over a potential disruption to regional flows.
Capitalising on the positive momentum and firm upstream crude benchmarks, Shenhua Baotou Coal Chemical Co. lifted baseline auction thresholds across the board to kick off September trading, though buyer participation turned increasingly selective amid expanded parcel sizes.
The strong paper tailwind provided immediate momentum for Shenhua Baotou Coal Chemical Co., propelling the coal-based producer to achieve a clean 100% sell-through across all offered parcels on the final trading day of the month.