26 April 2024 - Shenhua's coal-based PP and PE Auction Results
26 April 2024 - Shenhua's coal-based PP and PE Auction Results
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 26 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 |
1280 |
1200 |
7350 |
$897 |
7350-7680 |
$897-937 |
93.8% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
228 |
228 |
7550 |
$922 |
7550-7580 |
$922-925 |
100.0% |
|
LLDPE |
800 |
800 |
8250 |
$1007 |
8300-8410 |
$1013-1027 |
100.0% |
|
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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The final day of the week saw a better outcome than the previous trading session with PPBC and LLDPE achieving 100% concluded deals and homo-PP at 9.7% higher than yesterday. This was a direct influence from the rebound note on the Dalian Commodity Exchange earlier this morning.
The bulk of auctioned bids came from need-based purchases, mirroring the trend seen yesterday as many customers remained hesitant to accumulate excess stock ahead of the upcoming Labour Day holiday next Wednesday.
Anticipation loomed regarding the pre-holiday purchasing behaviour, with a conservative stance seeming to be adopted by most and expectations leaning toward essential purchases taking precedence.