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13 December 2023 - Shenhua's coal-based PP and PE Auction ResultsWith key contracts on the Dalian Commodity Exchange struggling to retain the previous rally, buyers started portraying a certain reservation level toward new purchases. |
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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 13 December 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 |
1400 |
1150 |
7350 |
$906 |
7380-7470 |
$910-921 |
82.1% |
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PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
256 |
123 |
7240 |
$892 |
7400-7520 |
$912-927 |
48.0% |
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LLDPE |
666 |
666 |
7950 |
$980 |
8000-8090 |
$986-997 |
100.0% |
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LDPE heavy duty |
- |
- |
- |
- |
- |
- |
- |
|
HDPE |
- |
- |
- |
- |
- |
- |
- |
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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 Shenhua ended today’s auction session with a satisfactory number of transactions, partly because of the reduced available volume. With key contracts on the Dalian Commodity Exchange struggling to retain the previous rally, buyers started portraying a certain level of reservation toward new purchases.
Shenhua attempted to lift the coal-based LLDPE film auction price by CNY50/ton. Despite the apparent CNY130/ton higher in the homo-PP auction price, this adjustment is attributed to the absence of a warehouse's low auction price from the previous day, resulting in an effective rollover.
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
