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14 December 2023 - Shenhua's coal-based PP and PE Auction ResultsKey PP and LLDPE contracts on the Dalian Commodity Exchange regained strength at the start of the trading day on optimism that the FED might embark on an interest rate cut cycle as early as 2024. |
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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 14 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 |
1650 |
1600 |
7330 |
$910 |
7350-7460 |
$912-926 |
97.0% |
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
PPBC |
250 |
150 |
7180 |
$891 |
7460-7490 |
$926-930 |
60.0% |
|
LLDPE |
600 |
600 |
7900 |
$981 |
8000-8100 |
$993-1005 |
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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Key PP and LLDPE contracts on the Dalian Commodity Exchange regained strength at the start of the trading day on optimism that the FED might embark on an interest rate cut cycle as early as 2024. Still, Shenhua decided to step back on auction prices for homo-PP by CNY20/ton and for LLDPE by CNY50/ton, which partially contributed to the strong sales results.
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
