9 January 2023 - Shenhua's coal-based PP and PE Auction Results
9 January 2023 - Shenhua's coal-based PP and PE Auction Results
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 09 January 2023. The following table showed the details of the auction results for prime grade only:
|
Product |
Auction Volume |
Deal Volume |
Auction Prices |
Deal Prices |
Deal % |
|||
|
CNY/ton |
USD/ton |
CNY/ton |
USD/ton |
|||||
|
Combined and reported by CommoPlast |
||||||||
|
Homo-PP |
2110 |
1347 |
7510 |
$979 |
7510-7750 |
$979-1010 |
63.8% |
|
|
PP Fiber |
- |
- |
- |
- |
- |
- |
- |
|
|
PPBC |
300 |
164 |
7500 |
$977 |
7750 |
$1010 |
54.7% |
|
|
LLDPE |
1400 |
1300 |
8000 |
$1043 |
8040-8370 |
$1048-1091 |
92.9% |
|
|
LDPE |
- |
- |
- |
- |
- |
- |
- |
|
|
HDPE |
- |
- |
- |
- |
- |
- |
- |
|
|
*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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Despite both PP and LLDPE contracts on Dalian Commodity Exchange poses a weak trend throughout the morning session, the auction’s sales performed better compared to last Friday.
Sources said that the strong demand for LLDPE is a result of an uptick in end-product businesses in both packaging and agricultural film sectors. “Because of the outbreak-related disruptions, some of the finished goods buyers delayed placing new PO. But things started to warm up. We secured some cargoes, worrying this uptrend might persist moving forward,” a buyer added.
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