Shenhua Auction: Firm demand for reasonable prices even as futures rebound deters spot activity
Market participants noted that some buyers who had held back earlier in the week returned to replenish inventories, preferring auction cargoes as spot market activity remained subdued
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction on 14 November 2025, with the results for prime grades as follows:
|
Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
||
|
CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
||||
|
Combined and reported by CommoPlast |
|||||||
|
PPH Yarn |
2400 |
2400 |
6200 |
$774 |
6250-6430 |
$780-803 |
100.0% |
|
PPBC Inj |
288 |
269 |
6000 |
$749 |
6000-6060 |
$749-756 |
93.4% |
|
LL Film |
800 |
798 |
6680 |
$834 |
6680-6840 |
$834-854 |
99.8% |
|
*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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Auction platform: https://www.e-chnenergy.com
Auction time: Monday – Friday, 10 AM – 12 PM
The firmer tone in futures contributed to a significant pickup in demand at Shenhua’s auction. PP and LLDPE futures for January 2026 contract on the Dalian Commodity Exchange posted a mild rebound during the morning session, with LLDPE outperforming PP.
Market participants noted that some buyers who had held back earlier in the week returned to replenish inventories, preferring auction cargoes as spot market activity remained subdued.
“Homo-PP yarn prices from certain local producers rose by around CNY50/ton this morning, which made the unchanged auction levels appear more attractive,” a trader said. “LLDPE film auction prices were roughly CNY20/ton lower than yesterday, while spot offers largely held steady, with some producers maintaining a firmer stance.”
This encouraged buyers to secure need-based volumes at the auction. Focus among market participants now shifts to whether this momentum can sustain into next week.
Overall, auction activity showed improved participation, with PP and LLDPE both recording near-complete clearance. Market sentiment remains cautious but slightly firmer, reflecting the interplay of futures performance, auction pricing, and buyer readiness ahead of the weekend.
Written: Kat Yun Yun
Edited: Aiman Haikal