08 April 2024 - Shenhua's coal-based PP and PE Auction Results
The concluded volume for both homo-PP and LLDPE is lesser today compared to Sunday, indicating a cautious stance among buyers toward the firmer price level.
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 08 April 2024. 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 |
1252 |
1152 |
7400 |
$906 |
7430-7660 |
$909-938 |
92.0% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
100 |
0 |
7500 |
$918 |
- |
- |
0.0% |
|
LLDPE |
1000 |
710 |
8220 |
$1006 |
8220-8390 |
$1006-1027 |
71.0% |
|
LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
|
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. |
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After encouraging deals on Sunday and a sustained uptrend on the energy complex, Shenhua Auction Platform unveiled today’s auction prices with notable increases. Homo-PP prices surged by CNY100/ton, while LLDPE prices climbed by CNY20/ton compared to yesterday.
The concluded volume for both homo-PP and LLDPE is lesser today compared to Sunday, indicating a cautious stance among buyers toward the firmer price level. “We are waiting for further price adjustments but with the ongoing low sales pressure from local producers, it is anticipated price will remain firm,” shared a local trader.
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-chnenergy.com