1. Material Transfer:The THJ centrifugal pump is crucial in evaporation and crystallization setups. It moves feedstock, intermediate products, condensate, and concentrated liquids between containers or pushes fluids through heaters and heat exchangers.
2. Circulation & Mixing:In some crystallization methods, the THJ pump keeps the solution circulating. This helps distribute heat evenly, stops hot spots, and ensures even crystal growth.
3. Flow & Pressure Control:By changing speed or valve settings, the THJ pump controls flow rates into evaporators and manages pressure in the system. This is key for consistent evaporation and crystallization.
4. Flow Rate & Head:It’s important to accurately figure out the flow and head needed for the system to avoid inefficient pump operation, which saves energy.
5. Corrosion Resistance & Materials:Since these pumps face acids, bases, and salts, they need to be made from tough materials like stainless steel, titanium, alloy steel, or have protective coatings.
6. Temperature & Pressure Tolerance:Pumps should handle high temperatures and pressures for reliable performance during intense crystallization.
7. Wear Resistance:With solid particles present, pumps need durable designs, like open impellers or special liners, to reduce wear.
8. Self-Priming & Cavitation Resistance:For jobs with frequent starts and stops or cavitation risks, pumps should be able to self-prime easily.
9. Sealing Systems:Double-face cartridge mechanical seals are best for handling abrasive materials while ensuring durability and staying eco-friendly.
10. Maintenance & Cleanability:Pumps that deal with crystallizing fluids should be easy to take apart for maintenance and cleaning.
11. Energy Efficiency:High-efficiency THJ pumps that meet industry standards can lower operating costs and fit well with eco-friendly practices.
II. Choosing Evaporation-Crystallization Pumps
THJ centrifugal pumps work differently from standard designs by using impeller thrust instead of just centrifugal force to move fluids:
1. Fluid Intake: The motor turns, creating a vacuum that pulls liquid into the pump.
2. Energy Transfer: Helical impeller blades create thrust, adding kinetic and pressure energy to the fluid.
3. Discharge: The fluid speeds up as it exits the pump, and the vacuum keeps the process going. This approach is great for high-flow, low-head tasks.
III. Industrial Uses
THJ pumps are common in evaporation, crystallization, and chemical processes across various industries:
1. Phosphate Fertilizers: Used in phosphoric acid and ammonium phosphate production.
2. Bayer Process Alumina: Circulates aluminum sodium solutions in evaporators.
3. Chlor-Alkali: Handles evaporation of caustic soda with salt.
4. Vacuum Salt Production: Circulates liquid in salt crystallizers.
NdFeB magnets are key products from Zoyn Magnetics, and they are some of the strongest permanent magnets out there, used in many industries. When we talk about NdFeB magnets, two types come up: bonded and sintered. Each has its own traits and uses, so knowing the differences can help you decide what's best for you.
One of the main differences lies in the manufacturing process. Strong sintered NdFeB magnets are made using a powder metallurgy process. The neodymium, iron and boron alloys are first ground into a fine powder. The powder is then pressed under high pressure in a mould to achieve the desired shape. Afterwards, the pressed powder is sintered at high temperatures to fuse the particles together to form a dense and strong magnet. In contrast, bonded NdFeB magnets are made by mixing neodymium powder with a bonding material, such as plastic or rubber. The mixture is then moulded or extruded into the desired shape, resulting in a more homogeneous structure of the magnet due to the even distribution of the binder.
These manufacturing differences can lead to variations in physical properties. Neodymium N52 disc magnet typically have higher magnetic strength. They have higher remanence (the magnetic flux density remaining after the magnetising field is removed) and coercivity (resistance to demagnetisation), making them ideal for applications that require a strong, stable magnetic field, such as electric motors and MRI machines. On the other hand, bonded neodymium magnets have lower magnetic properties. However, they excel in areas such as dimensional accuracy and complex shape forming. Complex shapes and thin-walled parts can be manufactured using bonded materials, which are difficult to achieve with sintered magnets.
Durability and corrosion resistance also differentiate these two types of magnets. Sintered neodymium magnets are susceptible to corrosion due to their porous structure, which is easily penetrated by moisture and other contaminants. As a result, they usually require additional surface treatments such as nickel-copper-nickel plating for protection. Bonded neodymium magnets typically have better inherent corrosion resistance due to the presence of a binder material. The binder encapsulates the neodymium particles, creating a natural environmental barrier that in many cases reduces the need for complex surface protection.
Cost is another important factor. Customized shaped Ndfeb magnets typically involve more complex manufacturing processes and often require additional post-treatment steps for surface preparation, which can drive up costs. Bonded neodymium magnets, which are simpler to manufacture and do not require extensive surface treatment, are often more cost-effective, especially in applications where magnetic strength is not a primary concern.
Both bonded and sintered NdFeB magnets from Zoyn Magnetics have their pros and cons. By understanding their differences, like how they're made, their physical properties, durability, and price, you can pick the right option for your needs, whether in electronics, automotive, or other fields. If you want more info about our products, just ask!
Permanent magnets play a pivotal role in shaping modern innovation. Their unparalleled magnetic properties enable groundbreaking advancements in energy efficiency and cutting-edge technologies. As a permanent magnets and magnetic assemblies manufacturer, Zoyn leads the charge in delivering innovative solutions that power industries worldwide.
The demand for magnets continues to rise due to their critical role in renewable energy systems and electromobility. For instance:
NdFeB magnets, the cornerstone of renewable energy technologies, account for 23% of all rare earth elements produced globally.
Their application in wind turbines and electric vehicles underscores their importance in reducing carbon footprints.
Recycling discarded NdFeB magnets has become a priority to address supply risks and promote sustainability.
Research highlights the social implications of these materials, emphasizing the need for sustainable sourcing to build trust in energy industries. By prioritizing eco-friendly practices, companies like Zoyn contribute to a greener future while driving innovation.
Explore how magnets power the technologies shaping our world, from renewable energy to advanced medical devices. Zoyn’s commitment ensures these innovations remain at the forefront of global progress.
Key Takeaways
Permanent magnets are important for clean energy, making wind turbines and electric cars work better.
Recycling rare earth magnets is key to saving resources and protecting the environment.
New magnetic materials improve how things work, helping healthcare and robots get better.
More people need permanent magnets because they save energy and help clean technology grow.
Making magnets locally can make supplies stronger and help the planet.
Permanent magnets possess unique magnetic properties that make them indispensable in modern technology. Their ability to generate a persistent magnetic field without external power sets them apart from other materials. This characteristic enables their use in applications where reliability and efficiency are paramount. For instance, sintered neodymium magnets, known for their exceptional strength, are widely used in electric vehicles and renewable energy systems. These magnets deliver high energy density, allowing for compact designs in advanced devices.
Recent advancements in magnetic materials have further enhanced their performance. Researchers at the Korea Institute of Materials Science (KIMS) developed a two-step grain boundary diffusion process. This technique improves coercivity while reducing reliance on heavy rare earth metals. The resulting magnets achieve coercivity grades between 45SH and 40UH, making them suitable for high-performance power electronics like drones and robotics. These innovations not only improve efficiency but also address global concerns about resource independence and supply security.
Moreover, studies on the magnetocaloric effect in nanostructured magnetic alloys highlight their potential in magnetic refrigeration. This technology offers a sustainable alternative to traditional cooling systems, reducing energy consumption and environmental impact. The demand for such innovations continues to grow as industries seek eco-friendly solutions.
Critical Role in Advanced Technologies
Permanent magnets play a critical role in driving advancements across various industries. Their applications extend beyond traditional uses, powering cutting-edge technologies that shape our future. For example, iron-based superconducting permanent magnets outperform previous models in generating high magnetic field strengths. This breakthrough has practical applications in industries requiring precision and reliability, such as medical imaging and particle accelerators.
In the realm of renewable energy, magnets are essential components of wind turbines and electric vehicle motors. NdFeB magnets, derived from rare earth metals, are particularly valuable due to their high energy efficiency. These magnets enable the production of lightweight, compact motors that reduce energy consumption while maintaining performance. As the demand for sustainable energy solutions rises, the role of magnets in these technologies becomes even more significant.
A comparative analysis of electromagnetic harvesters reveals the superior performance of permanent magnets in innovation contexts. Their ability to convert mechanical energy into electrical energy efficiently makes them ideal for energy harvesting applications. This capability supports the development of self-powered devices, reducing reliance on external power sources and enhancing sustainability.
The versatility of permanent magnets ensures their integration into diverse fields, from consumer electronics to aerospace engineering. Their unique properties and adaptability make them a cornerstone of technological progress, meeting the growing demand for efficient and reliable solutions.
Permanent magnets are revolutionizing renewable energy systems by enhancing efficiency and reliability. Their role in wind turbines is particularly noteworthy. These magnets generate a strong and constant magnetic field, which improves generator efficiency and reduces maintenance needs. The compact design enabled by their high magnetic strength allows for smaller, lighter turbines, making them ideal for both on-grid and off-grid applications. Recent advancements in wind energy systems have focused on improving stability and autonomy, further solidifying the importance of magnets in renewables integration.
The demand for renewable energy technologies continues to rise due to global environmental challenges. Permanent magnets, especially those made from rare earth metals, are integral to energy conversion systems like wind and solar power. Market research reports highlight this trend, showing a significant increase in the use of magnets in renewable energy projects. For example:
High efficiency enhances turbine performance and energy conversion rates.
Low maintenance reduces wear and tear, minimizing operational costs.
Compact designs allow for reduced size and weight, making installations more feasible in diverse environments.
A case study on wind energy projects demonstrates the effectiveness of permanent magnets in energy systems. The data reveals their ability to optimize energy output while reducing maintenance requirements, making them indispensable in the transition to sustainable energy solutions.
Electronics and Medical Devices
Magnets are the backbone of modern electronics and medical devices. In consumer electronics, they are essential components in smartphones, motors, and refrigerators. The growing demand for these devices has fueled the expansion of the electronics industry, with permanent magnets playing a critical role in meeting this demand. Rare earth metals like neodymium are widely used in these applications due to their exceptional magnetic properties, enabling compact and efficient designs.
In the medical field, magnets are transforming healthcare technologies. Magnetic resonance imaging (MRI) machines rely on high-performance magnets to produce detailed images of the human body. These magnets ensure precision and reliability, which are crucial for accurate diagnoses. Additionally, advancements in magnetocaloric materials are paving the way for magnetic refrigeration systems in medical facilities, offering energy-efficient cooling solutions.
The electric mobility sector also benefits from the integration of magnets. Electric vehicles, which saw a 35% increase in registrations in 2023, depend on rare earth magnets for their motors and battery systems. These magnets enable lightweight and compact designs, improving vehicle efficiency and reducing energy consumption. As the demand for electric vehicles grows, the role of magnets in this industry becomes even more significant.
Industrial Advancements
Permanent magnets are driving innovation in industrial machinery and automation. Their applications range from robotics to HVAC systems, where they enhance performance and efficiency. The Permanent Magnet Synchronous Motor (PMSM) market, valued at $27.01 billion in 2024, is projected to grow at a compound annual growth rate (CAGR) of 8.5%. This growth reflects the increasing use of magnets in industrial automation and electric power systems.
Rare earth metals are at the core of these advancements. They enable the production of high-performance magnets that deliver exceptional strength and reliability. For instance, PMSMs are widely used in industrial machinery, electric vehicles, and wind turbines. These motors offer superior energy efficiency and durability, making them ideal for demanding applications.
Market research reports indicate that the global permanent magnets market, valued at USD 24.36 billion in 2024, is expected to reach USD 51.78 billion by 2033. This growth underscores the expanding role of magnets in various sectors, including automotive, electronics, healthcare, and renewable energy. The demand for these materials continues to rise as industries seek innovative solutions to improve efficiency and sustainability.
Magnets are also transforming the automation landscape. Their ability to convert mechanical energy into electrical energy efficiently supports the development of self-powered devices. This capability reduces reliance on external power sources, enhancing sustainability and reliability in industrial applications.
Sustainability and Climate Change
Reducing Energy Consumption
Permanent magnets play a pivotal role in reducing energy consumption across industries. Their ability to generate strong and consistent magnetic fields without external power makes them indispensable in clean energy technologies. For instance, electric motors and generators equipped with rare earth magnets operate with higher efficiency, minimizing energy losses. This efficiency directly supports the clean energy transition by lowering the overall energy demand in critical applications like electric vehicles and wind turbines.
Governments and environmental agencies have recognized the importance of magnets in energy efficiency. According to a roadmap for sustainable energy innovations:
Year
Description
2025–2027
Design, build, and validate a proof-of-concept prototype electric machine with reduced rare-earth magnets.
2027–2030
Expand to other industries by advancing magnet and conductor technologies.
2030–Beyond
Integrate into production lines for industry adoption.
These milestones highlight the growing demand for advanced magnetic solutions to drive the energy transition. By improving energy efficiency, magnets reduce environmental impacts and contribute to global efforts to combat climate change.
Enabling Green Technologies
Magnets are at the heart of green technologies, enabling innovations that address climate change. Rare earth metals, essential for producing High-Performance Neodymium Magnet, are integral to clean energy technologies like wind turbines and solar power systems. Their compact size and high energy density allow for lightweight designs, making installations more feasible in diverse environments.
Recycling rare earth magnets further enhances sustainability. Companies like Apple have committed to using 100% recycled rare earth metals in their devices, aiming for carbon neutrality by 2030. This approach not only reduces environmental harm but also ensures a steady supply of materials for the growing demand in green technologies. Collaborative efforts among stakeholders have also fostered sustainable business models, ensuring the viability of these innovations in the market.
The clean energy transition relies heavily on magnets to power technologies that reduce carbon footprints. From electric vehicles to renewable energy systems, these materials are indispensable in creating a sustainable future. As industries continue to innovate, the role of magnets in addressing climate challenges will only grow.
Future Potential of Permanent Magnets
Emerging Technologies
The future of permanent magnets lies in their ability to power emerging technologies. I see a growing focus on domestic rare earth magnet production, which enhances supply chain stability and reduces reliance on imports. This shift is critical as industries like electric vehicles (EVs) and renewable energy continue to expand. Permanent magnets are essential for efficient electric motors in EVs, improving performance and energy efficiency. Similarly, their role in wind turbines highlights their importance in global sustainability initiatives.
Key trends driving growth:
Increasing investments in local magnet production facilities.
Rising demand for EVs and renewable energy systems.
Advancements in recycling technologies for rare earth elements.
Early-stage projects like Mkango Resources Limited are paving the way for sustainable magnet production. This initiative supports critical mineral supply chains while revitalizing NdFeB magnet manufacturing in the U.S. Additionally, companies like Ionic Technologies are innovating extraction processes to recover rare earth elements from recycled magnets. These advancements not only ensure a steady supply but also promote eco-friendly practices.
The potential of permanent magnets extends beyond traditional applications. For instance, their integration into energy harvesting devices enables self-powered systems, reducing dependency on external power sources. This capability is crucial for developing autonomous technologies in sectors like robotics and IoT.
Innovations in Magnetic Solutions
Innovations in magnetic solutions are shaping the future of technology. I find advancements in 2D magnetism particularly exciting. These ultra-thin magnets offer unique features like quantum confinement and mechanical flexibility, making them ideal for quantum devices and biomedical applications. Their use in non-volatile memory and spin-based logic devices could revolutionize data storage and computing.
Topic
Description
2D Magnetism
Enables ultracompact devices and quantum computing through enhanced sensitivity.
Heat-Assisted Magnetic Recording (HAMR)
Improves data storage density by using thermal assistance during writing.
HAMR technology exemplifies how magnetic innovations enhance precision and efficiency. By temporarily heating the recording medium, this method achieves higher-density data storage, meeting the growing demand for advanced hard disk drives.
The renewable energy sector also benefits from novel magnetic solutions. High-performance magnets in wind turbines and solar power systems optimize energy conversion, supporting the clean energy transition. As industries invest in sustainable technologies, the demand for innovative magnetic materials will only grow.
Permanent magnets are poised to redefine technological boundaries. From quantum computing to green energy, their versatility ensures they remain at the forefront of innovation. By embracing these advancements, we can unlock new possibilities for a sustainable and technologically advanced future.
Permanent magnets are the backbone of modern innovation, driving advancements in sustainability and technology. Their unique properties enable critical applications in renewable energy, electric vehicles, and consumer electronics. For instance, the rapid adoption of EVs and the expansion of wind energy highlight their transformative role in addressing global challenges like climate change.
Renewable energy expansion, especially wind power, relies on magnets.
Driver
EV adoption accelerates magnet market growth by enhancing motor performance.
As companies like Zoyn continue to innovate, the future of permanent magnets looks promising. Their contributions to green technologies and energy efficiency will shape a sustainable world, ensuring we meet the challenges of our changing climate. Explore how Zoyn’s high-performance magnets can power the next generation of solutions.
What medium properties should be considered for material selection?
1. Acetic acid is highly corrosive, and ordinary steel is prone to corrosion. Stainless steel is a good material for resisting acetic acid.
2. For high-temperature and dilute acetic acid steam, molybdenum-containing stainless steel chemical pumps can be selected. Under harsh requirements, high-alloy stainless steel or fluoroplastic pumps can be used.
3. For sodium hydroxide solutions with a concentration of 30% and at temperatures below 80°C, steel is widely used.
4. For high-temperature alkali solutions, titanium and titanium alloys or high-alloy stainless steels are often used.
5. The corrosion of ammonia and ammonium hydroxide is slight, and most metals and non-metals are suitable.
6. When using ordinary steel in salt water, paint protection is required. 316 stainless steel is a better choice.
7. Media such as alcohols and ketones are basically non-corrosive, but attention should be paid when selecting rubber seals.
8. The selection of materials for sulfuric acid, hydrochloric acid and nitric acid needs to be considered separately according to factors such as concentration and temperature.
In our company, the selection of pumps is generally divided into two categories:
Metal pumps are suitable for alkaline media, and the materials include 304, 316, 316L and 2205. Fluoroplastic pumps are suitable for acidic media, with the material F46 (for temperatures below 80 °C) and PFA (for temperatures above 80 °C, with a maximum temperature of 120 °C). These two types of pumps are the main products of Anhui Shengshi Datang.
Round slings are one of the most widely used synthetic lifting tools in industrial applications. Compared to traditional chain or wire rope slings, heavy duty round slings offer high capacity, flexibility, and surface protection. They are suitable for lifting heavy, irregular, or delicate loads in a safe and efficient way.
What Is a Round Sling?
A round sling is made by bundling multiple strands of high-strength polyester yarn into a continuous loop, then covering it with a tough protective sleeve. The inner core bears the weight, while the outer sleeve provides abrasion resistance and protects the load surface.
At NANJING D.L.T SLING, LTD, we produce round slings with working load limits up to 1100 tons, suitable for large equipment, steel components, wind power projects, and heavy machinery handling.
Key Features
High strength: Made from 100% polyester or high-performance fibers
Safety factor: Standard 7:1 or customized
Flexible & lightweight: Easy to handle even for large capacities
Color-coded: According to EN 1492-2 for quick identification
Customizable: Length, WLL, labels, color, and packaging
Typical Applications
Lifting heavy industrial equipment
Shipyard and offshore engineering
Power plant installation
Wind turbine lifting
Steel coil and pipe handling
Advantages Over Other Lifting Tools
Does not damage the load surface
Easy to store and transport
Resistant to corrosion and chemicals
No sparks, suitable for explosive environments
Quality and Standards
All slings are tested before delivery and come with traceable labels. We follow EN 1492-2 and other international standards. Certificates such as CE and GS are available. Third-party inspection can be arranged on request.
If you are looking for reliable heavy duty round slings, feel free to contact us for more information or a quotation. We support OEM and can add your company logo to the label or product.
Webbing slings, also known by other names, are an essential tool in various industries for lifting and securing heavy loads. These flexible and durable devices offer numerous advantages and come in different configurations. In this blog post, we will explore the alternative names used to refer to webbing slings, shedding light on the terminology associated with these versatile lifting solutions.
One commonly used alternative name for webbing slings is "web slings." This term emphasizes the fact that these slings consist of a woven webbing material, typically made of polyester or nylon. The webbing's strength and flexibility enable safe and efficient lifting operations.
Webbing slings are also commonly called "lifting straps." This name emphasizes their primary function of lifting heavy objects safely. Lifting straps can be wrapped around or attached to the load, providing a secure connection point for lifting equipment, such as cranes or forklifts.
As polyester material is frequently used in the construction of webbing slings, they are sometimes referred to as "polyester slings." Polyester offers excellent strength, resistance to abrasion, and durability, making it ideal for lifting and load securing tasks.
Another alternative name for webbing slings is "nylon slings." Nylon is another popular material used in the manufacturing of webbing slings due to its high strength-to-weight ratio and exceptional resistance to chemicals and UV radiation. Nylon slings are known for their ability to stretch and absorb shock, ensuring secure and reliable operation.
In rigging applications, webbing slings are often referred to as "rigging slings." Rigging slings are used for various purposes, such as lifting, supporting, or securing loads during construction or installation projects. The term "rigging" denotes the process of setting up and maintaining the equipment necessary for lifting and moving heavy loads.
Webbing slings are valuable lifting tools used in various industries for safe and efficient material handling. However, like any equipment, webbing slings can be susceptible to damage over time due to regular use, environmental conditions, and improper handling. In this blog post, we will delve into common types of webbing sling damage, their causes, and provide insights into how to identify and address these issues to ensure optimal safety and performance.
Abrasion damage occurs when the webbing material rubs against rough surfaces, edges, or sharp objects. Signs of abrasion include frayed edges, thinning of the webbing, or worn-out areas. To mitigate abrasion, it is essential to inspect slings regularly for signs of wear and use protective sleeves or edge protectors when lifting loads with rough or sharp surfaces.
Webbing slings can be cut or punctured by sharp objects, such as metal edges, nails, or protruding components. These damages weaken the sling's strength and compromise its lifting capacity. Inspecting slings before each use and removing any debris or sharp objects from the lifting area helps prevent cutting and puncture damage. Additionally, using appropriate padding or protective materials can provide an extra layer of protection.
Exposure to ultraviolet (UV) rays from sunlight can cause degradation of the webbing material over time. UV damage is often characterized by discoloration, brittleness, or loss of flexibility in the sling. Storing webbing slings in a cool, dry place away from direct sunlight when not in use, or utilizing UV-resistant sleeves or covers, can help minimize UV degradation.
Contact with corrosive chemicals, solvents, or acids can deteriorate the webbing material and compromise its integrity. It is crucial to assess the chemical environment and use appropriate chemical-resistant slings when handling hazardous substances. Regular cleaning and maintenance of the slings are also necessary to remove any chemical residues.
Exceeding the working load limit (WLL) or safe working load (SWL) of a webbing sling places excessive stress on the material, leading to overloading damage. Signs of overloading include elongation of the webbing, deformations, or even complete failure. It is essential to understand and adhere to the specified WLL and SWL, ensuring that the load is within the sling's capacity.
When discussing lifting and rigging equipment, people often confuse the terms webbing and slings. While they are closely related, they refer to different things. In this article, we’ll explain the differences in simple terms to help you better understand their roles in lifting operations.
Import Iron Ore Market Outlook for the Second Half of 2024
The first half of 2024 witnessed a fluctuating trend in imported iron ore prices, which initially declined, then rebounded, and finally fell again, ending the period lower than at the beginning, reflecting a slight overall decrease. As of June 28, the 62% Australian fines futures price index stood at $106.6 per dry metric ton, a decrease of 25.45% from the beginning of the year, while the 62% port spot price index was at 107.79 yuan/ton, down by 23.06% from the start of the year. The port spot price drop was less than that of the futures, leading to varying degrees of expansion in import profits for different grades. Concurrently, the Shanghai rebar price was 3480 yuan/ton, with a 13% decrease from the beginning of the year, showing that the finished product price drop was less than that of iron ore, indicating a weaker ore and stronger materials market situation. The basic supply and demand situation for iron ore in the first half of the year was characterized by a strong supply and weak demand pattern.
Price Review
The iron ore price in the first half of 2024 traced an inverted "N" shape, with a general downward trend, where the iron ore price drop was greater than that of the finished products. The 62% Australian fines index recorded a total drop of 25.45%, while the Shanghai rebar price saw a total decrease of 13%. As of June 28, the 62% Australian fines index was at $106.6 per dry metric ton, the 62% port spot index was at 107.79 yuan/ton, and the Shanghai rebar price was at 3480 yuan/ton.
Phase 1: January 2 to April 5
During this period, the 62% Australian fines index fell from the highest annual price of $143 per dry metric ton to the lowest of $97.45 per dry metric ton, a drop of 32%. The iron ore price repeatedly fell due to the dual impact of supply exceeding expectations and demand recovery not meeting expectations. Additionally, the slow pace of resumption of production and work in the terminal real estate and infrastructure sectors led to negative feedback from finished products to raw materials, causing iron ore prices to fall from the highest level of the year to the lowest.
Phase 2: April 5 to May 22
The 62% Australian fines index rebounded from $97.45 per dry metric ton to $122.45 per dry metric ton, a rebound of 26%. Macroeconomic benefits and the release of real estate relaxation policies led to a significant improvement in terminal demand, with finished products maintaining a reduction. On the demand side for iron ore, pig iron maintained an upward channel, market sentiment improved, trading activity increased, and iron ore prices rebounded.
Phase 3: May 22 to June 28
From $122.45 per dry metric ton, the 62% Australian fines index adjusted to $106.6 per dry metric ton, an adjustment of 13%. At the end of May, the State Council mentioned the strict implementation of steel capacity replacement, and the continuation of crude steel production control in 2024, leading to a decline in iron ore prices. Entering June, with a reduction in macroeconomic good news and the iron ore trading logic gradually shifting to a weak fundamental, coupled with the obvious seasonal off-season characteristics of terminal demand, iron ore prices fell further.
Fundamental Review
Supply: Increased Production in the First Half of the Year, Slow Recovery of Overseas Demand
In the first half of 2024, the total global iron ore shipments amounted to 786 million tons, an increase of 34.78 million tons year-on-year, an increase of 4.6%. Among them, the shipments of Australian iron ore in the first half of the year were 466 million tons, a decrease of 100,000 tons year-on-year, while the shipments from Brazil were 178 million tons, an increase of 11.75 million tons year-on-year, and shipments from other countries were 143 million tons, an increase of 23.14 million tons year-on-year.
The reasons for this situation mainly lie in: the Australian mines were affected by weather and accidents in the first half of the year, coupled with the new production projects in Australia not reaching the expected capacity; Brazil was relatively less affected by weather, and the mines increased capital expenditure on facility upgrades and maintenance, helping to increase production and shipments; the impact of accidents and geopolitical conflicts on non-mainstream countries has relatively weakened, with Ukraine, South Africa, and India contributing significantly to the increase.
Demand: Gradual Recovery of Pig Iron Production in the First Half of the Year, Steel Mills Continue Low Inventory Strategy
According to the Mysteel 247 blast furnace pig iron data, the total pig iron production in the first half of the year reached 415 million tons, a decrease of 14.46 million tons year-on-year, a drop of 3.36%, with an average daily pig iron production of 2.2821 million tons/day, a decrease of 92,500 tons/day year-on-year. It is clear that this year's pig iron production has been relatively weak compared to the same period last year, mainly due to poor performance in the downstream demand side. The inventory of finished products only began to decrease in mid-March this year, later than most years. At the same time, the increase in inventory pressure has led to increased losses for many steel mills, and the frequency of blast furnace maintenance has increased. Compared with the decline in crude steel in the first half of the year, it was found that the decline in pig iron was higher than that of crude steel, largely due to a significant recovery in scrap steel consumption this year.
Inventory: Continuous Accumulation of Port Iron Ore Inventory in the First Half of the Year
In the first half of 2024, the port inventory of imported ores first accelerated to a high level compared to the same period in the past three years, and then fluctuated at a high level. This year, the global iron ore supply and the annual comparison of China's iron ore arrivals have maintained a large increase, while pig iron production has been relatively weak year-on-year, so the port iron ore inventory level has expanded year-on-year in January-March, and from April to June, it has shown a continuous high level contrary to the trend of the previous two years.
Outlook
Overseas Supply
According to the seasonal pattern, the iron ore shipments in the second half of each year are higher than in the first half. Based on historical data, the second half of 2021 increased by 38.533 million tons compared to the first half, the second half of 2022 increased by 55.696 million tons, and the second half of 2023 increased by 75.493 million tons. This seasonal characteristic will continue this year. Considering the pace of new iron ore production projects globally and the annual sales and shipment targets of mines, it is expected that the iron ore shipments in the second half of this year will be 60.154 million tons higher than in the first half.
Domestic Supply
In the first half of the year, the domestic concentrate production was affected by previous accidents and weakened. Except for the Shanxi region, which is unlikely to resume production this year, some mines in Hebei have started to resume work. There were limited new production projects in the first half of the year, with a year-on-year increase of about 4.3 million tons in domestic concentrate production from January to May. In the second half of the year, despite the impact of winter mining difficulties and other factors, it is expected that some suspended enterprises will resume normal production, and there will be new production projects in the second half of the year. In summary, it is expected that there will be an increase of 2 million tons in domestic concentrate content in the second half of the year.
Domestic Demand
In the first half of the year, China's pig iron production decreased by 14.45 million tons year-on-year. For the calculation of iron ore demand in the second half of the year, four aspects need to be considered: first, the possibility of crude steel control policies being implemented in various regions within the year; second, the lack of domestic real estate policy drive; third, local efforts to resolve debt risks, and the slowdown in the development progress of infrastructure projects; finally, the United States, the European Union
High-Temperature Alloy Market - A 30 Billion Yuan Sector
Overview: Looking back at the price trend in the first half of this year, the stainless steel market operated with weak supply and demand, leading to a generally weak performance in prices. The balance of market supply and demand was disrupted, and production enterprises made production adjustments to cope with the current market conditions. Many companies have expanded their business to the high-temperature alloy field from 2020 to 2023. The output of high-temperature alloy steel of key Chinese enterprises was 15,900 tons, 22,300 tons, and 26,200 tons from 2020 to 2022, with a compound annual growth rate of 28.16% in the past three years. The global high-temperature alloy market size reached 38.239 billion yuan in 2023 and is expected to reach 56.767 billion yuan by 2029, indicating significant growth in the high-temperature alloy market in the coming years. Let's briefly understand the current situation of the high-temperature alloy market.
Definition of High-Temperature Alloy
High-temperature alloys are a class of metal materials based on iron, nickel, and cobalt that can work for a long time at temperatures above 600°C and under certain stress; they have high-temperature strength, good oxidation resistance, corrosion resistance, good fatigue performance, fracture toughness, and other comprehensive performance. High-temperature alloys have a single austenite structure and exhibit good structural stability and reliability at various temperatures. Due to the above performance characteristics and the high degree of alloying, high-temperature alloys are also known as "superalloys" and are widely used in aviation, aerospace, petroleum, chemical industry, and naval vessels. Based on the matrix element, high-temperature alloys are divided into iron-based, nickel-based, and cobalt-based high-temperature alloys. Iron-based high-temperature alloys can generally only reach temperatures of 750-780°C, while for heat-resistant parts used at higher temperatures, alloys based on nickel and refractory metals are adopted. Nickel-based high-temperature alloys hold a particularly important position in the field of high-temperature alloys, widely used to manufacture the hottest parts of aviation jet engines and various industrial gas turbines.
Price Trend Tracking
Looking back at the price trend of high-temperature alloys in the past two months, as of July 9th, the price of N08810 material from Anhui Fukai Resources was reported at 66,000 yuan/ton, a cumulative drop of 15,000 yuan/ton; the price of N08825 material was reported at 98,000 yuan/ton, a cumulative drop of 13,000 yuan/ton; the price of N10276 material was reported at 217,000 yuan/ton, a cumulative drop of 24,000 yuan/ton. It can be seen that high-temperature alloy resources are also showing a weakening trend, but even if the price weakens, the demand for materials such as N08810, N08825, and N10276 still shows a steady growth.
Features of High-Temperature Alloys
Excellent High-Temperature Strength: The ability to maintain high mechanical strength in high-temperature environments, ensuring the reliability of the material under extreme conditions.
Good Oxidation and Hot Corrosion Resistance: The ability to resist the erosion of oxidation and hot corrosion, extending the service life of the material.
Good Fatigue Resistance and Fracture Toughness: Possessing excellent anti-fatigue and fracture toughness, ensuring the safety and stability of the material during long-term use.
Sensitivity to Hot Working Processes: The microstructure of the alloy is very sensitive to hot working processes, requiring precise control of heat treatment processes to obtain the best performance and part quality.
Domestic High-Temperature Alloy Market Situation
The current situation of the domestic high-temperature alloy market is characterized by a large supply-demand contradiction but has huge development potential.
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