Recently, on Sinopec's annual results teleconference, the company representative answered questions about the oil prices, and said that the future trend of oil prices is still very uncertain, and it is expected to be around $100 this year and $85 next year respectively.

Sinopec, "There are many factors affecting oil prices at the moment, including geopolitics, macroeconomic trends, the implementation of the policy of OPEC+, the strength of the US DOLLAR and so on. We see a lot of uncertainty in the future oil prices. It is impossible to predict the accurate price, but a general trend could be estimated."

According to Sinopec, international institutions generally have a forecast of around $100 this year and around $85 next year in the oil prices. As geopolitical problems and other issues ease next year, oil prices will be lower than this year.

The volatile oil prices in the international market will continue to affect lots of industries and the supply of many Inconel625 powder.

In fact, in essence, nickel-based alloys are also a kind of stainless steel. They are just special stainless steels. The chemical composition is also different from ordinary stainless steel. Nickel-based alloys are high in nickel, high chromium, and high molybdenum. A high-alloy stainless steel of high-alloy stainless steel.

Among them, the famous steel is 6% Mo (254SMo). This steel has good local corrosion resistance. It has good pitting corrosion resistance and better stress corrosion resistance under the conditions of seawater, aeration, clearance and low-speed scouring (PI≥40). It is an alternative material for nickel-based alloys and titanium alloys. Secondly, it has excellent high temperature or high temperature corrosion resistance or corrosion resistance. It is irreplaceable for 304 stainless steel. In addition, from the perspective of the classification of stainless steel, the metallographic structure of special stainless steel is a stable austenitic metallurgical structure.

Because nickel-based alloy is a high-alloy high-performance special material, its manufacturing process will be more complicated than ordinary stainless steel products. At present, most of them still rely on traditional processes for manufacturing, such as: infusion, forging, rolling and other processes.

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The coronavirus (COVID-19) pandemic not only had a significant impact on public health, it also severely affected one of the linchpins of the global economy – the tourism industry. As many countries introduced curfews and travel restrictions to contain the spread of the virus, travel across the world significantly declined from early 2020 onwards. The financial repercussions of the coronavirus have already begun to manifest themselves within the tourism industry. In 2020, global revenue from the travel and tourism industry was estimated to drop from a forecasted 711.94 billion U.S. dollars to 568.6 billion U.S. dollars, representing a decrease of over 20 percent. The region predicted to see the highest decline in revenue was Europe, decreasing from 211.97 billion U.S. dollars in 2019 to roughly 124 billion U.S. dollars in 2020.
The downturn in tourism has caused the recession, and the weakening of the economy has also affected the market demand for Inconel625 powder. Recently, however, the demand for Inconel625 powder has increased, so contact us for the latest news on Inconel625 powder.

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