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Why did graphene become a scam in China?

But while graphene's prospects are increasingly promising, there is a very different argument: graphene is a hoax in China. In March 2015, Chongqing Green Intelligent Technology Research Institute of Chinese Academy of Sciences announced the launch of a g

View More+ May.25,2020
Oil spirals below zero in ‘devastating day’ for global industry

The day started like any other gloomy Monday in the oil market’s worst crisis in a generation. It ended with prices falling below zero, thrusting markets into a parallel universe where traders were willing to pay $40 a barrel just to get somebody to take crude off their hands.The move was so violent and shocking that many traders struggled to explain it. They grasped wildly at possible causes all day long — had some big firm got caught wrong-footed? Or were inexperienced retail investors flummoxed by a market quirk? — but had no tangible evidence of anything to point to.West Texas Intermediate futures have been the benchmark for America’s oil industry for decades, seeing the market through booms, busts, wars and financial crises, but no single event holds a candle to this. By the end of trading, the contract had slumped from $17.85 a barrel to minus $37.63.“Today was a devastating day for the global oil industry,” said Doug King, a hedge fund investor who co-founded the Merchant Commodity Fund. “US storage is full or committed and some unfortunate market participants were carried out.”Prices rebounded Tuesday, but still were trading at just $0.50 a barrel at 8:31 a.m. Singapore time.In one way, the negative plunge was just an extreme glitch as traders prepared for the expiry of the contract for delivery in May. Elsewhere, the market proceeded as normal — Brent futures, the benchmark for Europe in London, ended the day down sharply, but still above $25 a barrel. WTI for June delivery changed hands at $20 a barrel.But the negative prices also revealed a fundamental truth about the oil market in the age of coronavirus: The world’s most important commodity is quickly losing all value as chronic oversupply overwhelms the world’s crude tanks, pipelines and supertankers. Ultimately, traders were left desperate to avoid having to take delivery of actual oil because nobody needs it and there are fewer and fewer places to put it.Global AccordDespite the OPEC+ deal to cut 10 percent of global production, lauded by US President Donald Trump little more than a week ago, the oil market’s crisis is worsening. The rout will send a deflationary wave through the global economy, complicating the task facing central banks trying to keep economies afloat as the pandemic continues to paralyze business and travel worldwide.The price collapse could redraw the global map of power as petrostates like Russia and Saudi Arabia, which enjoyed a resurgence over the last 20 years thanks to an oil windfall, see their influence diminished. Exxon Mobil Corp, Royal Dutch Shell Plc and other oil giants are ripping up business plans, desperate to preserve cash.WTI is the world’s most traded financial oil contract, a benchmark followed from Zurich to New York to Tokyo. But when each month a futures contract nears expiry and traders roll their positions into further-out contracts, the real, physical world of WTI becomes very small — centered on Cushing, an oil town in Oklahoma where a massive hub of pipelines and storage tanks serves as the actual delivery point for barrels.In the past three weeks, crude has been flowing into Cushing at a breakneck speed, averaging 745,000 barrels a day and taking in more oil than a medium-sized European nation like Belgium consumes. At that rate, the tanks there will be full before the end of May, something that has never happened before.ETF FeverThe days before expiry are often volatile as traders make the shift from a paper to a physical market. Until a few days ago, the May contract had been supported by huge financial flows by retail and institutional investors pouring money into oil through exchange-traded funds.The largest crude ETF, known as the US Oil Fund, received billions of dollars in fresh funds in recent weeks, accumulating a fifth of all the outstanding contracts in the May futures contract. But last week, it rolled its position into the June contract, and evaporated from May. Without the fund, the contract was abandoned to the the forces of physical supply and demand.As the market opened early in Asia’s Monday morning, the May contract traded at $17.85. As New York traders were firing up workstations in their makeshift home offices, it was below $15.Then prices really started to slide, making history all the way down. By 8 a.m. New York time, the decline had reached 37 percent, the biggest intraday drop since the futures started trading in 1982. At around 11 a.m., it passed the low of $10.35 set in the oil bust of 1998. About an hour later, it took out $10 a barrel.‘Not a Single Bid’When CME Group Inc., which runs the exchange where WTI futures trade, said prices would be allowed to go negative, the selling accelerated. By 1:50 p.m. the contract was below $1 a barrel. Less than 20 minutes later, prices went below zero for the first time and just kept falling.“No bids. Mental!,” said one trader at a top merchant in a vain attempt to explain the collapse as prices went negative. “No bids; not a single bid,” said another one in London. “Ridiculous,” said a third senior trader in Geneva.Retail traders were likely sitting on long positions coming into the week and were forced to liquidate them, which would be consistent with the sell-off accelerating in the 30 minutes ahead of Monday’s close, Goldman Sachs analysts including Damien Courvalin theorized.The contract settled at minus $37.63, a drop of $55.90. And there’s still another day of trading to come before it finally expires.“The May crude oil contract is going out not with a whimper, but a primal scream,” said Daniel Yergin, a Pulitzer Prize-winning oil historian and vice chairman of the research and information company IHS Markit LtdEven discounting the oddity of the May contract’s plunge into negative prices, the world of physical oil suggests widespread pain.Many refineries and pipeline companies told producers on Monday that they would only take their oil if they were paid. The daily price bulletin from Enterprise Products Partners LP, one of America’s largest pipeline companies, showed negative prices for all of the crude it buys. Another giant, Plains All American Pipeline LP, told producers the same.Bob McNally, a consultant and oil historian, said the energy market was getting “reacquainted with how the price mechanism for oil works” — and why “for most of oil history, the industry and governments strive to stabilize prices through supply control, be it a tolerated cartel, government regulation, or both.”The OPEC+ coalition of oil producing countries has failed to stop the rout. Saudi Arabia, Russia and other producers announced a week ago an historic deal to cut global production by nearly a tenth, or 9.7 million barrels a day, from May. The US, Canada, Brazil and others have said their own production is also falling as companies stop drilling new wells.For Trump, who personally brokered the OPEC+ deal, negative prices mean more trouble in the US oil patch. Pressure is building within the Republican party to use trade barriers to save the shale industry, including placing tariffs on foreign oil.Trump responded to the negative prices at a White House press conference Monday with plans to fill the spare space in the Strategic Petroleum Reserve and by saying he would look into a proposal to stop shipments of Saudi Arabian oil that are currently en route to the US But he shrugged off the larger impact, calling it “largely a financial squeeze” that would be that would be over in the “very short term.”But the market — negative prices and all — isn’t waiting for OPEC to cut production, or for tariffs to slow imports. Rather than being an isolated event, Monday’s unprecedented oil market plunge serves as a warning of more pain to come.“If global storage worsens more quickly,” veteran Citigroup oil analyst Ed Morse said, “Brent could chase WTI down to the bottom.”

View More+ Apr.21,2020
Misunderstanding of mobile phone charging

Misunderstanding of mobile phone charging A lot of friends think that the first three times that the new mobile phone just bought back should be charged for more than 12 hours, so as to maximize the battery life. In fact, this concept is out of date. The so-c

View More+ May.25,2020
Which is better, lithium battery or lead-acid battery electric vehicle?

Lithium batteries are better. Whether it is volume specific energy or weight specific energy, lithium battery is more than three times higher than lead-acid battery. Lithium batteries are smaller and lighter. Long cycle life. The key to running is the battery

View More+ May.25,2020
How to activate the lithium battery when it "starves to death"?

Many people have bad habits, often people do not put the electric car battery at home, the air switch does not turn off, put a few months do not ride. When I came back for a few months, I found that the car had no power and could not be charged. The charger is plugged in, but it is always green, eve

View More+ May.25,2020
How much is the best charge for Apple mobile phone?

1. In daily use, Apple's mobile phone is better not to use automatic shutdown, but to charge the mobile phone when the power of the mobile phone is 20% - 40%, which can be unplugged when it is full. 2. Early cell phones used nickel cadmium and nickel hydr

View More+ May.22,2020
Whether solid electrolyte can completely solve the safety problem of battery

2019 is a very difficult year for new energy automobile industry chain enterprises. Many enterprises are struggling to survive in the pain of subsidization decline, capital reduction pressure and tight capital chain. Due to the continuous poor overall sales s

View More+ May.22,2020
Pumped storage batteries triple Australia's storage capacity

More than 20 pumped storage projects are in different stages of development in five Australian States, some of which are in the preliminary assessment stage and others are in the construction stage. A new study from the Australian National University (ANU) finds that if these projects continue

View More+ May.22,2020
CLPC china lithium lithium compounds market to 2027

CLPC china lithium lithium compounds market to 2027

View More+ Mar.29,2020
LITHIUM RESOURCES

Lithium ResourcesToday, known global reserves and resources of lithium amount to 35m. tonnes (Evans 2010). Some 61% of this volume is found in high altitude continental brine aquifers of Argentina, Bolivia, Chile, and China and Tibet. About 34% occur in lithium mineral deposits mainly in Australia,

View More+ Apr.12,2018
LITHIUM MINERALS PROCESSING

LITHIUM MINERALS PROCESSINGLithium mineral concentrates consumed, e.g. in the glass industry or as a pre-product for the production of lithium carbonate, are traded at lithium contents of 5.00wt% or 7.25wt% Li2O depending upon the application. For regular ore deposits with head feed concentrations o

View More+ Apr.12,2018
LITHIUM PILOT PLANT PROCESSING

Lithium Pilot Plant Processing ANZAPLAN uses its in-house technical centre and innovative machine manufacturer’s equipment for tailor-made process development and to provide samples for end-user approval. The ANZAPLAN bench scale and pilot plant processing facilities cover the full value chain of li

View More+ Apr.12,2018

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