We have estimated the carbon black market by segmenting it on two levels that include application and region. On the basis of application, we have segmented the market into tires, high performance coatings, and plastics among others such as rubber, toners, printing inks, & electrostatic discharge compounds. On the basis of region, the report is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America consists of the U.S., Canada and Mexico. Europe includes Germany, the UK, France, Italy, Spain, rest of Western Europe and Central & Eastern Europe (along with CIS). Asia Pacific includes China, India, Japan, Southeast Asia, Korea and Oceania (Australia & New Zealand). Latin America consists of all Central & South American countries (excluding Mexico).

截至2018 年7 月20 日当周，美国原油库存4.049 亿桶，较上周减少614.7 万桶。OECD 原油库存14.15 亿桶。2018 年4 月，中国商业原油库存1.97 亿桶，较上月增长200 万桶。全球主要经济体原油库存均处于较低水平。

本周动力煤价格继续回调，高位震荡格局短期难以改变，进入迎峰度夏，煤炭价格目前呈现“旺季不旺”态势。本周内蒙古、陕西动力煤价格延续上周下跌趋势，山西动力煤较上周维持不变，但产地煤价继续维持高位；港口动力煤价格继续回落，截止7 月27 日，秦皇岛港5500 大卡动力煤平仓价622 元/吨，较上周下跌29 元/吨

“蓝天保卫战”打响，环保监管有望推动行业进入新均衡。国务院7 月初公布《打赢蓝天保卫战三年行动计划》，未来推动将以京津冀及周边地区、长三角地区、汾渭平原等区域为重点的大气污染治理。焦炭处于黑色产业链的加工环节，过去由于焦化产能长期宽松，导致盈利受到上游焦煤成本和下游钢铁压价的双重冲击。但环保的持续监管将有效抑制焦炭供给，改善焦化供需格局，将行业推入新均衡。

In 2017, the oil and gas extraction index rebounded from the slump in 2016. The country’s natural gas production increased in volume terms by 7.3% y/y in 2017, whereas crude oil output volumes were reduced by 5.8% y/y. Value wise, the production of crude oil and natural gas surged cumulatively by 13% y/y to RON 12.9bn on the price increase of energy commodities on the global markets. In 2016, natural gas producers in Romania scaled back output volumes due to intensified competition from imported gas as import prices fell below domestic gas prices. However, in 2017, the oversupply condition on the European gas markets eased, prices rose and the Romanian companies ramped up production volumes again.

In 2016 and 2017 the growth of the Indian economy slowed down noticeably, mostly as a result of two government initiatives. One was the withdrawal of high-value banknotes in November 2016, known as “demonetisation” or “DeMo”; and the other was the introduction, in July 2017, of the Goods and Services Tax, which replaced India’s cascading and complex taxation system and, in effect, created a pan-Indian single market for the first time since the nation’s independence in 1947. Real GDP growth in 2021 is expected to reach the high of 8.0% that the Indian economy registered back in 2015, after slow but steady annual increases. Public spending on infrastructure and stable domestic consumption will be the main growth drivers over the forecast period. India spent INR 60tn on infrastructure in the period from FY2007 and FY2017, and estimates it will need to invest some INR 50tn more over the five fiscal years starting on April 1, 2018. The upcoming general elections in 2019 might pose risks to the reform agenda of prime minister Narendra Modi’s government, but infrastructure will hardly be removed from the priority list, as there is a wide political consensus that India needs top-quality infrastructure to sustain its growth in future.

回顾历史，我国煤炭价格的定价机制受市场和政策影响。根据我国煤炭价格发展历史，可以将煤炭价格形成机制划分为四个阶段，即1953~1984 年的完全计划经济定价阶段、1985~2012年的价格双轨制阶段、2013~2016 年的完全市场化阶段和2017 年至今的“锁定基础价+浮动价”的中长协与市场价并行的价格双轨制阶段。

上半年煤炭供求紧平衡，结构上不均衡导致煤价大幅上涨。上半年国内煤炭市场整体处于紧平衡的状态，但是沿海市场受制于铁路运力瓶颈以及进口煤限制，供求存在缺口，同时，结构上市场煤占比过低，最终导致煤价大幅上涨，另外产地环保检查导致坑口减产，坑口价格坚挺也在一定程度上支撑港口煤价。

Russia currently represents 10% of world production and 18% of world exports, making it one the leading players on the world market. However, the country's share of world consumption currently stands at 1.8%. Moreover, Russia is the biggest world producer of ammonium nitrate (AN), the second biggest – of potassium chloride (KCI), the third – of ammophos (MAP), the forth – of diammophos (DAP). The production of mineral fertilizers is also one of the key industries of the Russian chemical sector. The mineral fertilizers industry accounts for more than a third of production by value and 40% of exports in the sector.