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13 October 2023 – Shenhua's coal-based PP and PE Auction ResultsPositive rebound in PP and LLDPE on the Dalian Commodity Exchange following crude oil uptick boosts morning auction sales ... |
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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 13 October 2023. The following table showed the details of the auction results for prime grade only:
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Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
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CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
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Combined and reported by CommoPlast |
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Homo-PP |
1650 |
1386 |
7300 |
$885 |
7300-7550 |
$885-915 |
84.0% |
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PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
450 |
137 |
7530 |
$913 |
7650-7750 |
$927-940 |
30.4% |
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LLDPE |
900 |
826 |
7780 |
$943 |
7860-8060 |
$953-977 |
91.8% |
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LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
|
HDPE |
500 |
0 |
7680 |
$931 |
- |
- |
0.0% |
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*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 prices of PP and LLDPE experienced a slight increase due to the recent rise in crude oil prices since last night which resulted in a positive outlook in the overall auction sales for PP and LLDPE this morning. The auction price of homo-PP remained stable compared to yesterday, while LLPE was priced at CNY20/ton lower than the previous day.
Despite the positive outcome in today’s deals, some traders remain cautious while observing the market. Traders will continue to exercise caution, monitoring market dynamics while anticipating increased activity in the upcoming week. They expect prices to remain relatively stable, hovering within a narrow and weak range in the near term.
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
Country
China
