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 Spherical Molybdenum Powder are also expected to be volatile.
What is spherical molybdenum powder?
Spherical molybdenum powder is a transition metal molybdenum in powder state, and the impurity elements include Pb, Bi, Sn, Sb, Cd, Fe, Al, Si, Mq, etc. Appearance is gray-black metal powder, non-toxic, environmentally friendly, non-radioactive, high purity, strong chemical inertness, low hardness, small oil absorption, good thermochemical stability, dispersibility, wear resistance properties and acid and alkali resistance.
Preparation and use of spherical molybdenum powder
Molybdenum powder is usually prepared from ammonium paramolybdate or calcined MoO3 by hydrogen reduction. It is the raw material for preparing molybdenum deep-processed products by powder metallurgy.
Storage and transportation The product should be protected from moisture during transportation, and should not be violently collided. Store in a dry, ventilated and acid-free atmosphere to prevent oxidation. Shelf life does not exceed 6 months
The process of producing molybdenum powder from molybdenum oxides and molybdenum halides or metallic molybdenum as raw materials is an integral part of the molybdenum metallurgical process. There are mainly molybdenum dioxide hydrogen reduction, molybdenum halide hydrogen reduction, atomization method, plasma method. The molybdenum powder produced is mainly used as alloy additives, molybdenum products and raw materials for sputtering.
Due to the above-mentioned special properties, the application of molybdenum powder has developed rapidly, and it has been widely used in industrial and agricultural fields, such as rubber, plastics, paper, coatings, paints, inks, cables, pharmaceuticals, fertilizers, feed, food, sugar, textiles , glass, ceramics, sanitary products, sealants, adhesives, pesticides and pesticide carriers, as well as flue desulfurization, water treatment and other environmental protection aspects. The application of lightweight molybdenum powder overlaps and is different from that of molybdenum powder. It is mainly used in papermaking, plastics, artificial rubber, food, food coloring, medicine, adhesives and hygiene products. In recent years, the use of lightweight molybdenum powder has increased due to the information that light molybdenum powder can enhance the properties of certain materials.
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Since February, gold has enjoyed a smooth upward run on the back of surging US inflation and the brewing of war. While expectations of rate rises have also risen in tandem over this period, gold had been largely pre-priced and the underlying driver of tightening expectations had come from inflation continuing to rise to record highs. The risk aversion caused by the continued tension in the war also provided an important short-term support for gold. This will have a certain impact on the price of the Spherical Molybdenum Powder and the market of the Spherical Molybdenum Powder.
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