Zhenghe Group's propylene went on the Bohai commodity exchange on October 20. All of the 240 tons were sold out after the market opened.
The company followed ChemChina's e-business deployment and put its propylene, petroleum coke and liquefied gas on the Bohai exchange. On Sept 3, Zhenghe held a customer symposium and e-business product promotion meeting, where it explained to customers how to open accounts at the Bohai exchange and related trade rules, paving the way for the success of the project.
Zhenghe will release its sales plan on the Bohai platform, and customers can openly and fairly join the bidding. The price will be settled this way, effectively reflecting market supply and demand. Spot bidding transaction features open bidding and success of the highest price offer. It can show market changes; solve pricing problems; and boost sustainable, healthy and rapid company development.