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September 3rd - The 2026 World Power Battery Conference opened in Yibin, Sichuan Province on September 3rd. Themed "Electric Drive, Integration and Symbiosis of Everything," the two-day conference includes one plenary session, eight thematic meetings, and numerous activities covering core areas of the entire power battery industry chain, such as policy, solid-state batteries, supply chain, applications, energy storage, and recycling. During the conference, an automotive power battery carbon footprint information platform will be launched, policy background and implementation requirements will be explained, and achievements such as the 2026 Power Battery Innovation Technology Report, the "Power Battery Industry Development Index (2026)," and the "Power Battery Technology Roadmap" will be released to guide industry development.The China Earthquake Networks Center officially reported that a magnitude 3.0 earthquake struck Hejing County, Bayingolin Mongol Autonomous Prefecture, Xinjiang, at 12:40 PM on September 3, with a focal depth of 20 kilometers.1. According to CNN, citing two US officials familiar with the operation, the US military escorted 40 merchant ships carrying 18 million barrels of oil through the Strait of Hormuz on Tuesday, setting a new wartime record. 2. According to Longzhong Information, as of September 2nd, the total inventory of high-cis butadiene rubber in sample enterprises in China was 25,500 tons, a decrease of 1,100 tons, or 4.14%, compared to the previous period. 3. On September 3rd, Mysteels statistics for 114 steel mills showed a total imported sintering powder inventory of 29.1302 million tons, a decrease of 53,200 tons compared to the previous period. The total daily consumption of imported sintering powder was 1.1842 million tons, an increase of 20,900 tons compared to the previous period. The inventory-to-consumption ratio was 24.6, a decrease of 0.49 compared to the previous period. 4. This week, Mysteels statistics for 523 coking coal mines showed a capacity utilization rate of 67.8%, a decrease of 0.2% compared to the previous period. The average daily output of raw coal was 1.524 million tons, a decrease of 5,000 tons compared to the previous week; raw coal inventory was 4.013 million tons, a decrease of 9,000 tons compared to the previous week. 5. According to Longzhong Information, as of September 3, 2026, the total inventory of domestic soda ash manufacturers this week was 1.9113 million tons, an increase of 2,900 tons from Monday, a rise of 0.15%. Among them, light soda ash was 1.0429 million tons, a decrease of 700 tons compared to the previous week, and heavy soda ash was 868,400 tons, an increase of 3,600 tons compared to the previous week. 6. As of September 3, 2026, Longzhong Informations statistics show that the inventory of sample enterprises with a fixed liquid soda ash production capacity of 200,000 tons or more nationwide was 494,800 tons (wet tons), an increase of 3.19% compared to the previous week and an increase of 27.6% year-on-year. 7. According to Longzhong Information, Guangxi Nanning Float Glass Co., Ltd.s kiln, with a design capacity of 700 tons/day, cooled down on the afternoon of the 2nd. The specific time of water release will continue to be monitored. 8. According to Aladdin, the sea freight rate from Guinea to Cape, China, continued to strengthen on September 3rd, reaching $40.5/ton, up $4.5/ton from a low of $36/ton, a new high in nearly five years. 9. According to Longzhong Information, as of September 3, 2026, the sample inventory of pulp at major Chinese ports was 229.2 tons, an increase of 0.5 million tons from the previous period, a month-on-month increase of 0.2%. The inventory at major sample ports showed an accumulation trend this period. 10. South Korea announced a major restructuring of its state-owned energy and transportation companies, part of a broader public sector reform aimed at reducing costs and enhancing competitiveness. 11. According to CCTV, Iranian sources reported on the 3rd that Iran used missiles and drones to strike a US military base in Kuwait. Sources said thick smoke billowed from the scene. Earlier, the Kuwaiti military said its air defenses were responding to the missile and drone attacks. 12. According to Mysteel, in early September, inventory at the Kanchanaburi border crossing fell below 1.9 million tons, indicating the initial completion of environmental inspections. The number of vehicles clearing customs saw a slight increase, with an average of 701.5 vehicles clearing customs daily in September, a 20.97% increase month-on-month. The number of vehicles clearing customs today is expected to continue to rise. 13. The Governor of the Bank of Thailand stated on Thursday that the central bank supports the proposal to tax gold transactions. A 0.01% gold tax would not harm the industrys interests. The central bank plans to take further measures to curb illicit capital flows.Market news: Uber (UBER.N) plans to lay off about 10% of its global workforce, and the company says that only about 1% of its employees will work remotely in the future.Barclays raised its price target for Snowflake (SNOW.N) from $332 to $384.

Ukraine Will Block A Crucial Russian Gas Transit to Europe, Blaming Russia

Charlie Brooks

May 11, 2022 09:46

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Ukraine said on Tuesday that it will cease the flow of gas via a transit point that, according to Kiev, sends over one-third of the fuel piped from Russia to Europe through Ukraine. Kiev blamed Moscow for the action and said it would redirect the flows elsewhere.


Even after Moscow's invasion, Ukraine has remained a significant transit route for Russian gas to Europe.


The operator of Ukraine's gas infrastructure, GTSOU, has declared "force majeure" and will cease shipments through the Sokhranivka route as of Wednesday. "Force majeure" is a provision triggered when a firm is affected by circumstances beyond its control.


However, Gazprom (MCX:GAZP), which has a monopoly on Russian gas pipeline exports, said that it was "technologically impossible" to move all volumes to the Sudzha connecting point farther to the west, as GTSOU requested.


GTSOU CEO Sergiy Makogon told Reuters that Russian occupation troops have begun transporting gas flowing through Ukraine to two rebel territories supported by Russia in the country's east. He failed to provide proof.


The company stated that it was unable to operate at the Novopskov gas compressor station due to "the interference of the occupying forces in technical processes," adding that it could temporarily redirect the affected flow to the Sudzha physical interconnection point, which is located on Ukrainian territory.


Ukraine's suspension of Russian natural gas shipments via the Sokhranivka route should have no effect on the local Ukrainian market, according to Yuriy Vitrenko, the president of the state-owned energy business Naftogaz.


The national gas company of Moldova, a tiny country on Ukraine's western border, said that neither GTSOU nor Gazprom had notified them of a supply interruption.


Russian army and separatist militants have controlled the Novopskov compressor station in the Luhansk area of eastern Ukraine since shortly after Moscow launched a "special military operation" in February.


GTSOU said that it is the first compressor in the Ukraine gas transit system in the Luhansk area, the transit route for about 32,6 million cubic metres of gas per day, or a third of the Russian gas transported to Europe through Ukraine.


To fulfill its "transit responsibilities to European partners in full," GTSOU said that it will "temporarily move unavailable capacity" to the Sudzha interconnection point.


Gazprom said it had received information from Ukraine that the nation will cease gas transit to Europe through the Sokhranivka interconnector at 7:00 a.m. on Wednesday local time.


The Russian corporation said that it observed no evidence of force majeure or impediments to business as usual. Gazprom emphasized that it was fulfilling its commitments to European gas purchasers.


As punishment for the invasion of Ukraine, the United States has pushed other nations to reduce their reliance on Russian energy and has prohibited Russian oil and other energy imports.


Ned Price, a spokeswoman for the U.S. State Department, said that Tuesday's declaration does not alter the "as soon as feasible" schedule for reducing global dependency on Russian oil.

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