China: Auction sales result for Shenhua's coal-based PP and PE
China: Auction sales result for Shenhua's coal-based PP and PE
Shenhua Baotou Coal Chemical Co has concluded the auction session for its coal-based PP and PE cargoes on 10 August 2020. 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 |
1900 |
544 |
7400 |
$940 |
7550-7710 |
$959-979 |
28.6% |
|
|
PP Fiber |
0 |
0 |
- |
- |
- |
- |
- |
|
|
PPBC |
0 |
0 |
- |
- |
- |
- |
- |
|
|
LLDPE |
800 |
32 |
6950 |
$882 |
7150 |
$908 |
4% |
|
|
LDPE |
0 |
0 |
- |
- |
- |
- |
- |
|
|
HDPE |
200 |
10 |
7220 |
$917 |
7220 |
$917 |
5% |
|
|
*Auction and Deal volumes are in tonnage *All USD equivalent prices only exclude the 13% value-added tax (VAT) |
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Transactions are rather sluggish on the first trading day of the week regardless of the smaller quantity available for auction and lower deal prices. Such development underlines the concern among Chinese bidders on the near-term outlook.
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