Limited Electricity Penetration Market &Nbsp; PTA Continuation Of The Slow Cow Pattern

In mid June of this year, Zhejiang issued a notice of power restriction on chemistry.

Entering the summer of July, the summer heat weather is approaching. In the process of implementing the power restriction scheme of polyester enterprises in Zhejiang, some enterprises in some areas have plans for parking overhaul and production reduction and burden reduction according to their own actual conditions.

Especially after the first round of the end of June, the profits of polyester products rose sharply, the willingness of enterprises to reduce production was generally not strong, and the demand for PTA did not decrease significantly.

Due to the early implementation of power restriction is not strict, in August, the Zhejiang area power problem escalated, the downstream terminal also began to limit electricity.

Following the Zhejiang Province, at the end of 8 months, electricity restriction measures began to appear in Jiangsu area, and the demand for polyester was further suppressed.

With the influence of limited electricity, polyester and polyester products began to enter the stage of extrusion in August. The regular products fell more than six hundred or seven hundred yuan per ton in the month, and some even more than 1000 yuan per ton.

Although the operation of polyester enterprises in August has dropped somewhat, the profit situation is still at a good level in recent years. The overall inventory level is still below the safety line, and the market sales pressure is generally not large.

While the power consumption deepened, the PTA production plant entered a centralized maintenance period. In August, Yangzi Petrochemical Company, Xiang Lu Petrochemical Company and India IOC company began to overhaul.

The monthly average load of domestic PTA devices dropped to about 87%, which partly offset the demand reduction caused by power rationing.

In September, the pressure of centralized power rationing was gradually reduced.

Recently, the Ministry of industry and Commerce officials put forward the practice of centralizing power restriction is not appropriate. Next, the Ministry of industry and Commerce will sum up experience and make energy saving work normalized, institutionalized and standardized.

Due to the cooling of the weather, although the official policy is still strict, in fact, the real power restriction measures have been alleviated in some parts of the country, and some areas have adopted the strategy of self purchasing generators to restore production, to a certain extent, contributed to the recovery of the downstream rigid demand.

At present, the stock of polyester products has receded after a slight rise in August after the power rationing.

Entering the traditional peak season, the daily trading volume of China Textile City has climbed to more than 5 million meters.

On the terminal side, the export volume of clothing and textiles in China in July 2010 was 19 billion 928 million US dollars, an increase of 26.23% over the same period last year, an increase of 10.37% over June.

Among them, textiles export 7 billion 278 million US dollars, clothing 12 billion 650 million US dollars.

From 1 to July, the total export volume of Chinese clothing and textiles was US $106 billion 86 million, an increase of 22.9% over the same period last year.

Since the promulgation and implementation of the power restriction policy, the PTA industry chain has gone through the craziness of the short-term price rise of polyester products in late June, the rebound of PX started in July, and the centralized maintenance of the PTA device started in August. At present, it has entered the golden period of the traditional peak season and the Mid Autumn Festival National Day double preparation, and the multiple factors have formed a perfect relay.

Looking around the current peripheral market, the US economic stimulus has begun. International crude oil has closed at 75 US dollars / barrel for four consecutive trading days in from September 10th to 15th, and the Dow Jones index has rebounded more than 600 points from 10000 points.

Meanwhile, cotton, which is the raw material of textile industry, is becoming more and more aggressive in recent years, and is heading for the 20000 mark.

The PTA1101 contract has been repeatedly oscillating between 7850 and 8000 in recent days, and is ready to attack. The market outlook is expected to continue the pattern of the slow bull market, and the 8000 pass will not be the end of this round of market.