“Shame then that some have lost their moral compass!”
“Are you a glass half empty or a glass half full sort of guy?” “Well… when it comes to politics, I’m just empty!”
“Why don’t politicians get lost? Because they follow the polls!”
An important rare Earth metal
Tungsten is a critically important rare earth metal, renowned for its unique and valuable properties.
Tungsten has the highest melting point among all metals, which makes it exceptionally suitable for high-temperature applications.
Key aspects of its importance
Industrial and technological applications
Tungsten is used in many industries where hardness, high density, high wear resistance, and high-temperature resistance are required. This includes mining, construction, energy generation, electronics, aerospace, and defence sectors. It is used in weapons, autos, electric car batteries, semiconductors and industrial machinery.
Fact: approximately 2Kg of tungsten goes into every electric vehicle.
Alloys
Metals are frequently alloyed with Tungsten to enhance their strength without substantially adding to their weight. This property is vital for uses like arc-welding electrodes and heating elements in high-temperature furnaces.
Significance
Tungsten is acknowledged as a critical metal because of its economic significance and the scarcity of its sources. It is reported that China produces the majority of the world’s tungsten, controlling approximately 80% of the supply of this rare earth metal.
Durability and flexibility
Tungsten’s durability, flexibility, and resistance to corrosion contribute to its popularity across various industries and applications. It ranks among the hardest and most resilient materials found in nature.
These characteristics render tungsten not just crucial but also indispensable for numerous high-tech applications. The rarity of tungsten and the intricate nature of its extraction and refinement processes enhance its value even further.
World suppliers of tungsten
According to Statista.com the global tungsten market was valued at over $5 billion USD in 2022. It’s projected to grow significantly, with estimates suggesting it could reach over $9.5 billion USD by 2030
Nasdaq and S&P 500 both hit new highs as markets close early for U.S. Independence Day!
The S&P 500 reached new heights in a shortened trading session on Wednesday 3rd July 2024, with investors seemingly dismissing lacklustre economic data.
The S&P 500 closed at a new high of 5537, while the Nasdaq Composite finished the session at 18188, buoyed by rallies in technology and AI stocks like Tesla and Nvidia. Both indices reached new all-time highs during the session and closed at record levels.
The Dow Jones Industrial Average lost just closed down at 39308.
Trading volume was subdued as the New York Stock Exchange closed early at 1 p.m. ET. The exchange will remain closed on Thursday 4th July 2024 for Independence Day celebrations.
S&P 500: One-year chart – index closed at a new record high
Nasdaq Composite: One-year chart closed at new record high
U.S. private payrolls grew by just 150,000 in June 2024, below expectations
In June 2024, private companies created 150,000 jobs, falling short of the revised figure of 157,000 in May 2024 and the estimate of 160,000.
The leisure and hospitality sector led the way with 63,000 new jobs, marking the largest increase among the categories tracked by the payroll processing firm ADP.
U.S. age growth slowed to 4.9% year-on-year, the smallest rise since August 2021.
Markets generally shrugged off the lacklustre figures as Tech and AI driven indices continued their march to achieve ever higher positions.