Shenhua Auction: Soft market conditions persist despite slight uptick in LLDPE film deals
Market sentiment remained cautious as PP and LLDPE futures for the January 2026 contract on the Dalian Commodity Exchange moved within a tight range before softening toward midday, providing little guidance for physical activity
Shenhua Baotou Coal Chemical Co., China’s largest coal-based petrochemical producer, concluded its auction 25 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 |
2920 |
928 |
6150 |
$768 |
6180-6290 |
$771-785 |
31.8% |
|
LL Film |
350 |
150 |
6770 |
$845 |
6770 |
$845 |
42.9% |
|
*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
Shenhua’s latest auction drew subdued participation across homo-PP yarn and LLDPE film, though interest in LLDPE film was marginally firmer than in the previous session. Market sentiment remained cautious as PP and LLDPE futures for the January 2026 contract on the Dalian Commodity Exchange moved within a tight range before softening toward midday, providing little guidance for physical activity.
The lack of a clear futures lead prompted buyers to keep procurement minimal and focused on immediate requirements. Auction prices for both grades slipped by CNY 10–30/ton on the day, reflecting the ongoing softness in transaction sentiment and the limited appetite for fresh volumes.
A market source noted that month-end positioning and concern over methanol plant outages in Iran could lend cost support to PP. However, buyers “remain cautious and are not showing urgency,” the source said, adding that spot enquiries were still thin as sentiment stayed defensive.
The session ultimately underscored a market still searching for stability, with selective buying and futures performance expected to guide near-term direction.
Written by: Kat Yun Yun
Edited by: Aiman Haikal