Oil futures tumbled more than $5 a barrel on news that the Biden administration is considering releasing about 1 million barrels a day from the U.S. Strategic Petroleum Reserve (SPR) for several months to cool surging crude prices.
Brent crude futures were down $4.71, or 4.2 percent, at $108.58 a barrel by 0035 GMT. U.S. West Texas Intermediate futures fell $5.45, or 5 percent, to $102.74 a barrel.
At an earlier time, gasoline prices had already reached record levels because of the Russia-Ukraine conflict.
The prices of other commodities like the 316l stainless steel powder are also expected to be volatile.
What is 316L stainless steel?
316L grade stainless steel, also known as A4 stainless steel or marine grade stainless steel, is the second most common austenitic stainless steel after 304/A2 stainless steel. The main alloy composition after iron is chromium (16-18%), nickel (10-12%) and molybdenum (2-3%), as well as a small amount (< 1%) of silicon, phosphorus and sulfur.
316L is commonly used in the chemical and petrochemical industries, food processing, pharmaceutical equipment, medical devices, drinking water, wastewater treatment, marine applications and near the coast or in urban areas.
316L vs. 316 stainless steel
316 and 316L stainless steel alloys are both marine-grade steels. The difference between them is that the proportion of carbon in 316L is lower. To meet the requirements of 316L stainless steel, the carbon content must not exceed 0.03%. This reduces the risk of carbon deposition, making it a better choice for welding to ensure maximum corrosion resistance.
316 stainless steel has a medium carbon content and a molybdenum content of between 2% and 3%, thus improving its resistance to corrosion, acidic elements and high temperatures.
Both materials have excellent ductility, which means that they perform well in bending, stretching, deep drawing and spinning.
Should I use 316 or 316L stainless steel?
You need to consider the following factors:
316L is the best choice for high corrosion and high temperature applications. Because the carbon content of 316L is less than that of 316, it has better intergranular corrosion resistance, which means that its weld will not rot like 316 stainless steel.
The cost of 316 and 316L stainless steel is roughly the same.
The responsiveness of 316 stainless steel to magnetic field is very low. Unlike ferromagnetic basic stainless steels, most varieties of stainless steel (including 316) are austenitic-or actually non-magnetic.
However, some 316 stainless steel products can be cold formed and welded, in which the crystal structure of austenite is transformed into ferromagnetic martensite. 316L steel is easier to obtain a certain degree of magnetism.
Both types of stainless steel can be used in various industries. However, 316 is mainly used in construction and infrastructure because it is sturdy, pitting and corrosion resistant in most cases. 316L is very popular in pharmaceutical and photographic equipment because it can withstand welding and corrosive chemicals.
316L and 316 Stainless Steel powder Price
The price is influenced by many factors including the supply and demand in the market, industry trends, economic activity, market sentiment, and unexpected events.
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316L and 316 Stainless Steel powder Supplier
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Recently, the first press conference of the Boao Forum For Asia Annual Conference 2022 was held. Two flagship reports were released at the conference: "Asia's Economic Prospects and Integration Process 2022" and "Sustainable Asia and the World 2022-Green Transformation in Action in Asia".
The flagship report points out that the global economy will recover in 2021, and the pace of economic integration in the Asia-Pacific has not stopped even in the face of the impact of COVID-19. The Asia-Pacific region has provided new impetus for the world's economic recovery and institutional building.
The report gives an outlook on the Asian economy, noting that a number of factors will affect Asian economic growth. For example, mutated strains such as Delta and Omicron have become more transmissible, and many economies are experiencing epidemic peaks again. The Ukraine crisis has triggered geopolitical changes in Asia and Europe, leading to higher commodity prices, which may affect the global energy supply and energy transformation.
The report pointed out that the Asian economy will still be in the process of recovery in 2022, but the growth rate may moderate. According to the report, Asia's economic growth in 2022 is likely to be lower than the current IMF forecast, which is projected at 4.8%.
Affected by several factors, the supply of the 316l stainless steel powder is erratic and thus its prices are expected to go higher in the future.
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