US President recently decided to invoke a Cold War-era defense law to encourage domestic production of minerals needed to make batteries for electric cars.
This order, issued under the Defense Production Act (DPA), is expected to help miners secure government funding for feasibility studies for new projects to refine lithium, nickel, and other metals for electric vehicles, or to increase productivity at existing facilities.
The funds will not be used to dig new mines or buy minerals for government stocks, and the DPA does not allow the mining industry to evade regulatory or licensing standards. It is unclear how much money could be allocated.
Talon Metals Corp said this decision signaled the US would support responsible domestic mining, processing, and recycling of battery materials, and see it as a matter of national importance. The company has a supply agreement with Tesla to supply materials from a Minnesota nickel mine they are developing.
This move could cause volatility in the prices of metals and other commodities like the Alloy Inconel718.
What is Nickel-based Super Alloy Inconel718:
Inconel 718 or In718 is a nickel-chromium-molybdenum alloy. It is an oxidation-resistant and corrosion-resistant material ideal for use in extreme environments under pressure and heat. In718 was invented in the early 1960s in INCO Huntington Alloys (now Special Metals Co.) and used in turbine parts manufacturing. Since then, In718 has become the most widely used nickel-based superalloy in the history of aero-engines. The unique alloy composition of In718 enables it to have good comprehensive properties, namely high strength, creep resistance, etc. Especially under 650℃, it has good stability in terms of mechanical properties. Many parts of modern aero-engines, such as turbine discs, blades, brakes, shafts, stators, seals, supports, pipes, fasteners, are made of In718.
Properties of Nickel-based Super Alloy Inconel718:
When heated, a thick and stable passivating oxide layer is formed on the surface of the alloy, protecting the surface from further erosion. It exhibits high yield, tensile, and creep fracture properties at high temperatures. Inconel718’s high-temperature strength is developed by solid solution strengthening or precipitation hardening. Inconel718 has good comprehensive properties in the temperature range of -253 ~ 700℃ (1290°F). Its yield strength below 650℃ ranks first among the deformation superalloys. It has good fatigue resistance, radiation resistance, oxidation resistance, corrosion resistance, and good machining and welding performance. Various complex-shaped parts can be produced with Inconel718, and thus Inconel718 is widely used in aerospace, nuclear energy, petroleum industry, and extrusion die in the above temperature range.
Applications of Nickel-based Super Alloy Inconel718:
Chemical processing;Gas turbine blades, seals, and combustors;High-temperature fasteners;Pressure vessels;Aerospace industry, for constructing heat resistant turbines;Low-temperature storage tanks;Nuclear energy industry;Petroleum industry.
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Commodities such as crude oil, wheat, cotton, and nickel have rallied since Russia's "special military operations" began in late February. On the last trading day of this quarter, commodities were on track for their biggest gain since 1990. For this reason, it is expected that the price of the Alloy Inconel718 will continue to increase.
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