Analysts at JPMorgan recommended selling or "underweight" emerging market local currency sovereign debt because of the global impact of the Ukraine-Russia crisis.
JPMorgan estimated that fixed-income assets in emerging markets have lost 6-9 percent of their value since Russia invaded Ukraine a month ago, with nervousness about the war and its impact on global energy and food prices adding to existing pressures.
Some leading emerging market central banks are signaling that interest rates now need to rise faster than previously expected, which fuels fears of "stagflation". Stagflation means when high inflation and higher interest rates undermine economic growth.
With both the U.S. Federal Reserve and emerging market central banks raising interest rates, JPMorgan also said it made sense to "underweight" emerging market assets by taking advantage of the recent pullback in local currency bond yields relative to TREASURIES.
JPMorgan said major metals exporters such as South Africa, Chile, and Peru could still do well, but warned that emerging market fixed income assets now faced a more "stagflationary" trajectory.
The markets and prices of many commodities, metals, chemicals like the Silicon Nitride powder still face uncertainty.
Introduction to Silicon Nitride Si3N4 Powder
Silicon nitride or Si3N4 is a kind of white powdery crystal; The melting point is 1900℃, and the density is 3.44g/cm3 (20℃). There are two variants: the α type which is a hexagonal dense packing structure, and the β type which is a crystalline structure. Silicon nitride is gray when it has impurities or excess silicon.
Physicochemical Properties of Silicon Nitride Si3N4 Powder
Silicon nitride hardly interacts with water. It slowly hydrolyzes to ammonium salt and silicon dioxide in a strong acid solution. Soluble in hydrofluoric acid, and does not act with dilute acid. A solution of strong alkali slowly corrodes the silicon nitride, and the molten strong alkali quickly converts the silicon nitride to silicates and ammonia. Above 600℃, Si3N4 can reduce transition metal oxides (see transition elements), lead oxide, zinc oxide, and stannic oxide, and release nitrogen oxide and nitrogen dioxide.
Silicon nitride is very strong, especially the hot-pressed silicon nitride. It is one of the hardest substances in the world. It is very high-temperature resistant, and it can maintain its strength at a high temperature of 1200℃. After heating, it will not melt into a melting body, until 1900℃ it will decompose. And it has amazing chemical corrosion resistance, almost all inorganic acid and 30% of the following caustic soda solution, also can withstand a lot of organic acid corrosion. It is also a kind of high-performance electrical insulation material.
|Silicon Nitride Si3N4 Powder Properties|
|Other Names||silicon (IV) nitride, α-Si3N4, SiN, trisilicon tetranitride, Si3N4 powder|
|Appearance||white to gray powder|
|Solubility in H2O||insoluble|
Applications of Silicon Nitride Si3N4 Powder
Silicon nitride is an important structural ceramic material with hardness, lubrication, and wear resistance. It is oxidation resistant at high temperatures. And it can also resist cold and hot shocks. Even though heated to more than 1000℃ in the air, through sharp cooling and then sharp heating, it will not break.
Because of such excellent characteristics, it is often used to manufacture bearings, turbine blades, mechanical seal rings, permanent molds, and other mechanical components. Using silicon nitride ceramic which is resistant to high temperature and not easy to heat transfer to manufacture the heating surface of engine parts can improve the quality of diesel engines, save fuel and improve the thermal efficiency.
In the mechanical industry, silicon nitride ceramics are used as bearing ball bearings, rollers, ball seat rings, molds, new ceramic cutting tools, pump plungers, spindle sealing materials, etc.
In the chemical industry, silicon nitride ceramics are used as wear and corrosion-resistant components, such as ball valves, pump bodies, combustion carburetors, filters, etc.
In the metallurgical industry, because of its properties of high-temperature resistance, small friction coefficient, and self-lubrication, and, for most metals, the alloy solution is stable, so silicon nitride ceramics can be used to make metal material processing die, such as dial core bar, extrusion, wire drawing die, roll, transfer roll, heating fixture, hot couple set camps, metal heat treatment support, crucibles, liquid aluminum guide camp, aluminum lining, etc.
Silicon nitride ceramic materials are also widely used in the electronics, military, and nuclear industries.
Main Supplier of Silicon Nitride Si3N4 Powder
Luoyang Tongrun Nano Technology Co. Ltd. (TRUNNANO) is a trusted global chemical material supplier & manufacturer with over 12-year-experience in providing super high-quality chemicals and Nanomaterials, including silicon powder, nitride powder, graphite powder, zinc sulfide, calcium nitride, 3D printing powder, etc.
If you are looking for high-quality silicon nitride Si3N4 powder, please feel free to contact us and send an inquiry. ([email protected])
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 Silicon Nitride powder is erratic and thus its prices are expected to go higher in the future.
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