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China: Auction sales result for Shenhua's coal-based PP and PEChina: Auction sales result for Shenhua's coal-based PP and PE |
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Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 15 November 2019. 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 |
2134 |
1026 |
8000 |
$1008 |
8000-8350 |
$1008-1053 |
48% |
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PPBC |
560 |
260 |
8580 |
$1082 |
8750-8930 |
$1103-1126 |
46% |
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LLDPE |
0 |
0 |
- |
- |
- |
- |
- |
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LDPE |
86 |
0 |
7900 |
$996 |
- |
- |
0% |
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HDPE |
0 |
0 |
- |
- |
- |
- |
- |
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*Auction and Deal volumes are in tonnage *All prices in CNY are included of 13% VAT rate and based on EXW China term *All USD equivalent prices are excluded of 13% VAT rate |
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Apparently, Chinese bidders continue to show a rather reluctant stance in procuring cargoes on the final trading day of the week. This is clearly reflected in the lower than expected deal concluded, especially for homo-PP, in spite of the good quantity offered by the supplier.
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-shenhua.com.
Country
China
