Shenhua Auction: Limit-down futures erase spot arbitrage, stalling prime clearance

Limit-down 6.0% drops in Dalian Commodity Exchange (DCE) PP and LLDPE futures—triggered by Wednesday's over 8% drop crude oil rout on US–Iran de-escalation bets—brought physical bidding at Shenhua Baotou Coal Chemical Co.’s Thursday session to a near-standstill, compressing prime-grade clearance.