CommoPlast Article

Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction 15 September 2025, with the results for prime grades as follows:

Product	Auction Volume	Deal Volume	Auction Prices		Deal Prices		Deal %
Product	Auction Volume	Deal Volume	CNY/ton	USD/ton	CNY/ton	USD/ton	Deal %
*Combined and reported by CommoPlast*
PPH Yarn	1250	1140	6550	$814	6550-6920	$814-860	91.2%
BOPP	200	0	6900	$858	-	-	0.0%
PPBC Inj	200	0	6650	$827	-	-	0.0%
LL Film	360	360	6870	$854	6930-7110	$861-884	100.0%
HD Film	100	0	7200	$895	-	-	0.0%
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.

PP and LLDPE futures on the Dalian Commodity Exchange rebounded in the morning session, lending support to Shenhua’s auction performance for homo-PP yarn and LLDPE film.

Stronger buying interest emerged after Shenhua lowered its auction prices, with homo-PP yarn cut by CNY150/ton and LLDPE film trimmed by CNY30/ton. The discounts helped secure some deals, though most purchases remained on a needs-only basis, underscoring the lack of a broader demand recovery.

Market sentiment remains cautious as participants navigate the second half of September. Uncertainty over both pre- and post-holiday demand continues to weigh on confidence, with many buyers reluctant to commit to bulk purchases. While firmer futures and cheaper offers provided short-term support, the outlook is tempered by expectations that prices may soften again once the National Day holiday ends in early October.

This restrained approach reflects familiar seasonal trends, where demand typically firms in late September but fades after the holiday. For now, the market appears to be in a holding pattern, with buyers prioritizing flexibility over forward stocking.

Shenhua Auction: Lower Prices and Futures Rebound Support PP, LLDPE Deals