Citigroup said in a report Wednesday that it was bullish on the outlook for commodities for the remainder of the year, while the bank also expected crude oil and metal prices to rise further.

Citi report shows that since the beginning of the third quarter of this year, the commodity market to play a power, and will be the remaining time in 2017 has been outstanding performance, especially in view of the investment funds have more power into the market. “The bank said raw materials will rise in the quarter ending next week, which is mainly due to the higher prices of metals, including aluminum,” Citi added, “this quarter, due to China’s growth is more balanced, the yuan stronger, As well as the implementation of environmental and safety policies, strong promotion of metal and commodity markets. ”

The bank said, “Overall, we expect strong performance will continue until the end of the year, if the oil as a whole instead of substituting, may be expected to join the Chinese-related commodities and rare metals strong momentum.” Citi said, after a turbulent summer , Crude oil should be higher at the end of this year.

Citigroup has been bullish on commodities this year, the bank said in July last year, with the global economic slow recovery, investors will be more cash into the fund, which is conducive to commodity factors. In addition, the bank also said last month, as China to promote the supply side of the reform, metal, iron and other global markets tight.

Crude oil market, Citigroup said that due to crude oil inventories may decline, the spot market may tighten. “The fundamentals of supply and demand continue to be in line with our constructive expectations, and crude oil inventories have declined at a rate of about 100 million barrels per day during the summer season, and the momentum is expected to continue for the full year of 2017,” the bank said.

At the same time, Citi is still in the near future to maintain the neutral to bullish view of crude oil. The bank is expected to Brent crude oil in the fourth quarter of this year is expected to be 58 US dollars a barrel, 2018 is estimated at $ 54 a barrel, in addition to the estimated 2018 US WTI crude oil at $ 50 a barrel.

Brent crude futures closed up 2% to $ 56.29 a barrel on Wednesday, while US WTI crude futures closed up 1.9% to $ 50.41 a barrel. Oil prices will rise nearly 16% this season, will be the best performance in 2004 to the third quarter, after the Iraqi oil ministers implied the Organization of Petroleum Exporting Countries (OPEC) and other oil-producing countries to consider to extend production or even increase the intensity of production.

As of September 20 closing, methanol CFR China (LC 0-30 days) reported 350-352 US dollars / ton, up 1 US dollars / ton; methanol CFR Southeast Asia (LC 0-30 days) reported 363-365 US dollars / ton.

September 20 Asian ethylene glycol market closed at $ 941 / ton, up $ 23 / ton higher than yesterday.

US stock market rose driven overnight overnight zinc rebounded late closing up $ 25, due to the Federal Reserve policy eagle, the dollar shocked by a straight line, short-term zinc rally or limited, expected this zinc prices rose slightly.

Overnight zinc zinc opened at 3110.5 US dollars / ton, the Asian period of London zinc fell slightly to 3095 US dollars / ton line near the shock consolidation, intraday hit the lowest point of 3086 US dollars / ton; Europe and the United States period, driven by the US stock market rose, Climbed to a maximum of 3154 US dollars / ton, slightly late after the fall to 3130 US dollars / ton line near the end, closing at 3135.5 US dollars / ton, up 25 US dollars, or 0.8 percent, volume 10938 increased 1305 hands, positions 308335 increase 4769 hand; evening Shanghai zinc main 1711 contract opened at 25,760 yuan / ton, the highest 25820 yuan / ton, the lowest 25415 yuan / ton, and finally closed at 25560 yuan / ton, up 110 yuan, or 0.43 percent, volume 145676 reduced 221890 , Positions 247634 to reduce the 17,144 hand. September 19 zinc (market) commodity index was 148.50, compared with the previous day

Rose 1.54 points, the highest point than the cycle of 155.02 points (2017-08-21) fell 4.21%, compared with November 22, 2015 the lowest point 72.28 points rose 105.45%. (Note: cycle refers to 2011-09-01 so far).

As of September 20 closing, butadiene FOB Korea reported 1549.00-1551.00 US dollars / ton; butadiene CFR China 1599.00-1601.00 US dollars / ton.

As of September 20 closing, butadiene FOB Rotterdam spot goods 1198.00-1202.00 US dollars / ton; butadiene FD northwest Europe stock 948.00-952.00 euros / ton.

South Korea Lotte cutting-edge materials (the original South Korea’s Samsung) petrochemical PC device capacity of 130,000 tons / year, two production lines, the device can run, it is reported that in September part of the dollar offer intention in 3200-3250 US dollars / ton.

September 20, 2017 European strategic small metal cobalt ingots (99.3%) offer 28.25-28.75 US dollars / lb,Compared with the previous day; electrolytic cobalt (99.8%) offer 29.85-30.65 US dollars / lb, unchanged from the previous day

September 20, the Asian benzene market closed up, FOB Korea rose 16 US dollars to 804-805 US dollars / ton, FOB Southeast Asia rose 16.5 US dollars to 800-801 US dollars / ton, CFR China rose 8 US dollars to 812-813 US dollars / ton

September 20, the European benzene market closed up, CIF ARA rose 8.5 US dollars to 801-802 US dollars / ton, FOB Rotterdam rose 7.5 US dollars to 800-801 US dollars / ton.