29 April 2024 - Shenhua's coal-based PP and PE Auction Results
Shenhua achieved satisfactory auction results on the first trading day of the week, except for the homo-PP grade, which witnessed a marginal drop from the previous session in terms of quantity.
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 29 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 |
1050 |
748 |
7350 |
$897 |
7350-7660 |
$897-935 |
71.2% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
200 |
200 |
7600 |
$928 |
7600-7830 |
$928-956 |
100.0% |
|
LLDPE |
800 |
799 |
8310 |
$1014 |
8310-8480 |
$1014-1035 |
99.9% |
|
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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Shenhua achieved satisfactory auction results on the first trading day of the week, except for the homo-PP grade, which witnessed a marginal drop from the previous session in terms of quantity.
Despite Sunday operations and hand-to-mouth replenishments ahead of the Labour Day holiday, purchasing sentiment remained sombre among buyers.
However, optimism persisted as one trader highlighted, “Even with a CNY60/ton increase in LLDPE auction prices today, it was still able to fetch favourable deals as buyers anticipate limited import arrival in the upcoming weeks.”
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