According to Dow Jones Algiers on September 21, according to informed sources, Saudi Arabia’s most important grade of crude oil supply decline, this situation may push up the price of oil.

The Trump administration is putting pressure on Saudi Arabia to take measures to control the rise in oil prices. Under this pressure, Saudi Arabia will use the oil-producing countries summit in Algiers on Sunday to ensure that the country can fill the US 11 The month began a shortage of any crude oil supply due to Iranian oil export sanctions.

But Saudi Arabian National Oil Company (Saudi Ami) told potential buyers that the company’s most important grade of crude oil will be in short supply in October, as the company previously underestimated demand before the start of Iranian sanctions. According to people familiar with the matter, Saudi officials estimate that in the long run, once Iran no longer exports crude oil, Saudi Aramco does not have the capacity to meet future demand.

Supply shortages may push oil prices above $80 a barrel, which may affect US consumers’ decision to see if President Trump’s Republican Party can maintain control of both houses in the midterm elections in November.

On September 13, the domestic market for zinc metal rose, the average price of metal zinc in the domestic spot market was 21,622.50 yuan / ton, up 1.11% from the previous trading day; the average ex-factory price was 22,118.57 yuan / ton, compared with the previous trading day. The price rose by 0.81%.

The zinc (market) commodity index on September 12 was 122.16, down 0.61 points from yesterday and down 21.58% from the highest point of the cycle of 155.77 points (2017-10-09), compared with the lowest point of 72.28 on November 22, 2015. It has risen by 69.01%. (Note: Period refers to 2011-09-01 to date).

On September 13, zinc prices rose, and the recent zinc price shocks adjusted. On September 13, domestic zinc prices rebounded and prices rose by around RMB 200/ton. The overall demand of the zinc market did not change significantly, the market performance struggled, and the zinc warehouse inventory increased, but the Shanghai stock market’s recent inventory is still at a low level. On September 13th, the inventory of zinc ingots in Shanghai futures market was 4,160 tons, and the inventory increased by 1,292 tons. The market activity of zinc ingots was poor, and the overall transaction volume was low.

Market outlook: After the market outlook, market demand has not improved significantly, and zinc prices have not been able to rise. The sharp drop in zinc prices has stimulated some consumption. Zinc demand has risen temporarily and zinc prices have rebounded. However, zinc stocks have seen significant growth in recent stocks. Shanghai futures zinc ingots have an inventory of 4,160 tons. Futures inventories have increased substantially. Zinc supply is sufficient and zinc prices are sufficient. Insufficient growth momentum, zinc prices are unlikely to produce large increases. There was no major change in the supply and demand environment, and the zinc price growth in the market was weak. It is expected that the zinc price in the market will fluctuate.

According to foreign media reports, the Polish state agency ARP recently confirmed that LG Chemical will open the largest electric vehicle battery factory in Europe this year in Poland. The plant will employ 2,500 people to produce enough batteries for 100,000 battery packs, which means the battery plant will have several gigawatt hours per year.

According to ARP, LG Chem plans to invest 5.9 billion zlotys ($1.63 billion) for a new plant near Wroclaw. Wrocław is 190 km (118 miles) from the German border, and Germany is the headquarters of the Volkswagen Group. The Volkswagen Group plans to invest more than 20 billion euros ($24 billion) in zero-emission vehicles by 2030, and will have an annual production capacity of 3 million electric vehicles by 2025.

At present, there are many car manufacturers in Europe who are willing to buy batteries from LG’s new factory, including leading brands such as Jaguar, Volkswagen Group, Renault-Nissan and Daimler. The expected demand for electric vehicle batteries (especially in Europe) indicates that the status of the new factory in Europe at LG Chem will not last long, if the battery project of NorthVolt in Sweden is adequately funded and production can be as scheduled In progress, the battery plant’s annual production capacity will reach 32 GWh by 2023.

When asked about the source of lithium and other raw materials, a representative of the local branch of LG Chem said that it would first import raw materials from the Korean parent company and then hope to buy it from Polish suppliers. According to Chang-Beom Kang, vice president of LG Chem, the company chose Poland as the most competitive production location to meet the needs of European and global automakers.

After unilaterally withdrawing from the Iranian nuclear deal, the United States launched a series of actions against Iran, including pressure on countries to stop importing crude oil from Iran by November 4. In the face of pressure from “quasi-alliance friends”, India not only verbally stated that it “will not terminate the oil trade with Iran”, but also took practical actions to allow state-owned refineries to import Iranian oil using cruise ships and insurance provided by Tehran.

According to a Reuters report on the 4th, a number of Indian shipping companies, including the Indian National Shipping Company (SCI), had suspended shipping to Iran due to US sanctions. In order to maintain trade relations with Iran in oil, New Delhi allowed state-owned refineries to import Iranian oil through ships owned by Iranian National Cruises.

The report said that after the US exited the Iranian nuclear agreement in May this year, US President Trump ordered the resumption of economic sanctions against Iran and threatened that the US government hopes that all countries including allies will stop importing oil from Iran by November 4. Otherwise, it will face US sanctions, and this time the United States will not give any state immunity.

After the United States issued a warning, India and Turkey took the lead in stating that they would not suspend oil trade with Iran. Sun Yay Sudir, the joint secretary of the International Cooperation Department of the Indian Ministry of Oil and Gas, said on June 27 that “India does not recognize unilateral sanctions and only recognizes sanctions imposed by the United Nations.”

It is reported that Iran is the third largest oil supplier in India after Iraq and Saudi Arabia. The US think tank Eurasian Group said in the report that India is currently buying 700,000 barrels of oil per day from Iran. To meet growing energy needs, India sees oil as an important and strategic resource.