Search results for: market microstructure

Authors: A.Farrag Farrag, A. M. El-Aziz Abdel Aziz, W. Khlifa Khlifa

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Ultrasonic treatment is a promising process nowadays in the engineering field due to its high efficiency and it is a low-cost process. It enhances mechanical properties, corrosion resistance, and homogeneity of the microstructure. In this study, the effect of ultrasonic treatment and several casting conditions on microstructure, hardness and corrosion behavior of AC4C aluminum alloy was examined. Various ultrasonic treatments of the AC4C alloys were carried out to prepare billets for thixocasting process. Treatment temperatures varied from about 630oC and cooled down to under ultrasonic field. Treatment time was about 90s. A 600-watts ultrasonic system with 19.5 kHz and intensity of 170 W/cm2 was used. Billets were reheated to semisolid state and held for 5 minutes at 582 oC and temperatures (soaking) using high-frequency induction system, then thixocasted using a die casting machine. Microstructures of the thixocast parts were studied using optical and SEM microscopes. On the other hand, two samples were conventionally cast and poured at 634 oC and 750 oC. The microstructure showed a globular none dendritic grains for AC4C with the application of UST at 630-582 oC, Less dendritic grains when the sample was conventionally cast without the application of UST and poured at 624 oC and a fully dendritic microstructure When the sample was cast and poured at 750 oC without UST .The ultrasonic treatment during solidification proved that it has a positive influence on the microstructure as it produced the finest and globular grains thus it is expected to increase the mechanical properties of the alloy. Higher values of corrosion resistance and hardness were recorded for the ultrasound-treated sample in comparison to cast one.

Keywords: ultrasonic treatment, aluminum alloys, corrosion behaviour, mechanical behaviour, microstructure

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Authors: V. C. Igwemezie, A. N. Mehmanparast

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The primary focus of this work is to understand how variations in the microstructure and cyclic waveform affect the corrosion fatigue crack growth (CFCG) in steel, especially in the Paris region of the da/dN vs. ΔK curve. This work is important because it provides fundamental information on the modelling, design, selection, and use of steels for various engineering applications in the marine environment. The corrosion fatigue tests data on normalized and thermomechanical control process (TMCP) ferritic-pearlitic steels by the authors were compared with several studies on different microstructures in the literature. The microstructures of these steels are radically different and general comparative fatigue crack growth resistance performance study on the effect of microstructure in these materials are very scarce and where available are limited to few studies. The results, for purposes of engineering application, in this study show less dependency of fatigue crack growth rate (FCGR) on yield strength, tensile strength, ductility, frequency and stress ratio in the range 0.1 – 0.7. The nature of the steel microstructure appears to be a major factor in determining the rate at which fatigue cracks propagate in the entire da/dN vs. ΔK sigmoidal curve. The study also shows that the sine wave shape is the most damaging fatigue waveform for ferritic-pearlitic steels. This tends to suggest that the test under sine waveform would be a conservative approach, regardless of the waveform for design of engineering structures.

Keywords: BS7910, corrosion-fatigue crack growth rate, cyclic waveform, microstructure, steel

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Authors: Kamel Malik Bensafta, Gervasio Bensafta

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The purpose of this paper is to investigate the relationship between oil prices and socks markets. The empirical analysis in this paper is conducted within the context of Multivariate GARCH models, using a transform version of the so-called BEKK parameterization. We show that mean and uncertainty of US market are transmitted to oil market and European market. We also identify an important transmission from WTI prices to Brent Prices.

Keywords: oil volatility, stock markets, MGARCH, transmission, structural break

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Authors: Herjuno Bagus Wicaksono, Emma Almira Fauni, Salma Amelia Dina

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The Efficient Market Hypothesis (EMH) states that, in an efficient capital market, price fully reflects the information available in the market. This theory has influenced many investors behavior in trading in the stock market. Advanced researches have been conducted to test the efficiency of the stock market in particular countries. Indonesia, as one of the emerging countries, has performed substantial growth in the past years. Hence, this paper aims to examine the efficiency of Islamic stock market in Indonesia in its weak form. The daily stock price data from Indonesia Sharia Stock Index (ISSI) for the period October 2015 to October 2016 were used to do the statistical tests: Run Test and Serial Correlation Test. The results show that there is no serial correlation between the current price with the past prices and the market follows the random walk. This research concludes that Indonesia Islamic stock market is weak form efficient.

Keywords: efficient market hypothesis, Indonesia sharia stock index, random walk, weak form efficiency

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Authors: Quang Dong Dang

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This paper examines the possible effects of stock market developments by channels on income and wealth inequality. We use the Bayesian Multilevel Model with the explanatory variables of the market’s channels, such as accessibility, efficiency, and market health in six selected countries: the US, UK, Japan, Vietnam, Thailand, and Malaysia. We found that generally, the improvements in the stock market alleviate income inequality. However, stock market expansions in higher-income countries are likely to trigger income inequality. We also found that while enhancing the quality of channels of the stock market has counter-effects on wealth equality distributions, open accessibilities help reduce wealth inequality distributions within the scope of the study. In addition, the inverted U-shaped hypothesis seems not to be valid in six selected countries between the period from 2006 to 2020.

Keywords: Bayesian multilevel model, income inequality, inverted u-shaped hypothesis, stock market development, wealth inequality

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Authors: J. Ptačinová, J. Ďurica, P. Jurči, M Kusý

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Ledeburitic tool steel Vanadis 6 has been subjected to sub-zero treatment (SZT) at -140 °C and -196 °C, for different durations up to 48 h. The microstructure and hardness have been examined with reference to the same material after room temperature quenching, by using the light microscopy, scanning electron microscopy, X-ray diffraction, and Vickers hardness testing method. The microstructure of the material consists of the martensitic matrix with certain amount of retained austenite, and of several types of carbides – eutectic carbides, secondary carbides, and small globular carbides. SZT reduces the retained austenite amount – this is more effective at -196 °C than at -140 °C. Alternatively, the amount of small globular carbides increases more rapidly after SZT at -140 °C than after the treatment at -140 °C. The hardness of sub-zero treated material is higher than that of conventionally treated steel when tempered at low temperature. Compressive hydrostatic stresses are developed in the retained austenite due to the application of SZT, as a result of more complete martensitic transformation. This is also why the population density of small globular carbides is substantially increased due to the SZT. In contrast, the hardness of sub-zero treated samples decreases more rapidly compared to that of conventionally treated steel, and in addition, sub-zero treated material induces a loss the secondary hardening peak.

Keywords: microstructure, Vanadis 6 tool steel, sub-zero treatment, carbides

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Authors: A. Ozel

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The ductile to brittle transition temperature is a very important criterion that is used for selection of materials in some applications, especially in low-temperature conditions. For that reason, in this study transition temperature of as-cast and austempered unalloyed ductile iron in the temperature interval from -60 to +100 degrees C have been investigated. The microstructures of samples were examined by light microscope. The impact energy values obtained from the experiments were found to depend on the austempering time and temperature.

Keywords: Austempered Ductile Iron (ADI), Charpy test, microstructure, transition temperature

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Authors: Arunas Burinskas, Manuela Tvaronavičienė

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Although the new trade theories, unlike the theories of an industrial organisation, see the structure of the market and competition between enterprises through their heterogeneity according to various parameters, they do not pay any particular attention to the analysis of the market structure and its development. In this article, although we relied mainly on models developed by the scholars of new trade theory, we proposed a different approach. In our simulation model, we model market demand according to normal distribution function, while on the supply side (as it is in the new trade theory models), productivity is modeled with the Pareto distribution function. The results of the simulation show that companies with higher productivity (lower marginal costs) do not pass on all the benefits of such economies to buyers. However, even with higher marginal costs, firms can choose to offer higher value-added goods to stay in the market. In general, the structure of the market is formed quickly enough and depends on the skills available to firms.

Keywords: market, structure, simulation, heterogenous firms

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Authors: Cem Ozatalay, Senem Ornek

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The Artprice Contemporary Art Market Annual Report 2014 notices that Istanbul, with its art market volume of $3.6 million has become the first city of the Middle East and North Africa region and the 14th city of the World. Indeed, the period 2004–2014 has been significant in terms of the growth of the art market, during which the majority of contemporary art galleries and museums in Istanbul was inaugurated. This boom means that with the joining of new agents, the structure of the art market has dramatically changed. To use Nathalie Heinich’s terminology, in the current art field, three art genres – namely classical art, modern art and contemporary art – coexist, but in the case of Istanbul, such as many art cities in the world, the latter genre has become increasingly dominant. This presentation aims to show how the power shifts away from the classical art agents to contemporary art agents, and the effects produced by the conflicts between the old and new agents of current art field. Based on the data obtained from an ongoing field research in Istanbul among the art market agents such as art dealers, curators, art critics and artists, it will be shown that even if the agents of different art genres are in conflict with each other, there is, at the same time, a continuum between the three art worlds.

Keywords: contemporary art market, economic sociology of art, Istanbul art market, structure of the art field in Istanbul

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Authors: Patrik Jangl, Milan Mikuláštík

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The objective of the paper is to measure and compare market orientation of Swiss and Czech banks, as well as examine statistically the degree of influence it has on competitiveness of the institutions. The analysis of market orientation is based on the collecting, analysis and correct interpretation of the data. Descriptive analysis of market orientation describe current situation. Research of relation of competitiveness and market orientation in the sector of big international banks is suggested with the expectation of existence of a strong relationship. Partially, the work served as reconfirmation of suitability of classic methodologies to measurement of banks’ market orientation. Two types of data were gathered. Firstly, by measuring subjectively perceived market orientation of a company and secondly, by quantifying its competitiveness. All data were collected from a sample of small, mid-sized and large banks. We used numerical secondary character data from the international statistical financial Bureau Van Dijk’s BANKSCOPE database. Statistical analysis led to the following results. Assuming classical market orientation measures to be scientifically justified, Czech banks are statistically less market-oriented than Swiss banks. Secondly, among small Swiss banks, which are not broadly internationally active, small relationship exist between market orientation measures and market share based competitiveness measures. Thirdly, among all Swiss banks, a strong relationship exists between market orientation measures and market share based competitiveness measures. Above results imply existence of a strong relation of this measure in sector of big international banks. A strong statistical relationship has been proven to exist between market orientation measures and equity/total assets ratio in Switzerland.

Keywords: market orientation, competitiveness, marketing strategy, measurement of market orientation, relation between market orientation and competitiveness, banking sector

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Authors: Abdullah Kaymakci, Daniel M. Madyira, Ntokozo Nkwanyana

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The effect of metal transfer modes on mechanical properties of welded 3CR12 stainless steel were investigated. This was achieved by butt welding 10 mm thick plates of 3CR12 in different positions while varying the welding positions for different metal transfer modes. The ASME IX: 2010 (Welding and Brazing Qualifications) code was used as a basis for welding variables. The material and the thickness of the base metal were kept constant together with the filler metal, shielding gas and joint types. The effect of the metal transfer modes on the microstructure and the mechanical properties of the 3CR12 steel was then investigated as it was hypothesized that the change in welding positions will affect the transfer modes partly due to the effect of gravity. The microscopic examination revealed that the substrate was characterized by dual phase microstructure, that is, alpha phase and beta phase grain structures. Using the spectroscopic examination results and the ferritic factor calculation had shown that the microstructure was expected to be ferritic-martensitic during air cooling process. The tested tensile strength and Charpy impact energy were measured to be 498 MPa and 102 J which were in line with mechanical properties given in the material certificate. The heat input in the material was observed to be greater than 1 kJ/mm which is the limiting factor for grain growth during the welding process. Grain growths were observed in the heat affected zone of the welded materials. Ferritic-martensitic microstructure was observed in the microstructure during the microscopic examination. The grain growth altered the mechanical properties of the test material. Globular down hand had higher mechanical properties than spray down hand. Globular vertical up had better mechanical properties than globular vertical down.

Keywords: welding, metal transfer modes, stainless steel, microstructure, hardness, tensile strength

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Authors: H. A. Jawan

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This review describes the models of environmental-related crack propagation of aluminum alloys (7xxx) during the last few decades. Acknowledge on effects of different factors on the susceptibility to SCC permits to propose valuable mechanisms on crack advancement. The reliable mechanism of cracking give a possibility to propose the optimum chemical composition and thermal treatment conditions resulting in microstructure the most suitable for real environmental condition and stress state.

Keywords: microstructure, environmental, propagation, mechanism

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Authors: Yang Wanhuan, Zou Jichun, LI Shen, Zhong Weihua, Yang Wen

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High entropy alloys (HEAs) have aroused significant concern in high-temperature supercritical carbon dioxide (S-CO2) environments due to their unique microstructures and outstanding properties. However, the anti-corrosion ability and mechanism of these HEAs in the S-CO₂ remain unclear. Herein, we developed a new AlCrFeNiMn (AM)-HEA with double phases by vacuum arc melting furnace. The corrosion behavior of AM-HEA in the S-CO₂ at 500 ℃ under 25 MPa for 400 hours was deciphered by multiple characterization techniques. The results show that the discrepancy of corrosion between the matrix and boundary was accounted for by their microstructure and components. The role and mechanism of Mn contents for their oxide scales in boundary zones were emphasized. More importantly, the nano-precipitated second phase and numerous boundaries for the outstanding anti-corrosion ability of the matrix were proposed.

Keywords: high entropy alloy, microstructure, corrosion, supercritical carbon oxide, AlCrFeNiMn

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Authors: Godwin Chigozie Okpara, Eugene Iheanacho

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This paper examined the dynamic behavior of stock market development and the growth of Nigerian economy. The variables; market capitalization ratio, turnover ratio and liquidity proxies by the ratio of market capitalization to gross domestic product were sourced and computed from the Nigerian stock exchange fact books and the CBN statistical bulletin of the Central Bank of Nigeria. The variables were tested and found stationary and cointregrated using the augumented Dickey Fuller unit root test and the Johnson cointegration test respectively. The dynamic behavior of the stock market development model was verified using the error correction model. The result shows that about 0.4l percent of the short run deviation is corrected every year and also reveals that market capitalization ratio and market liquidity are positive and significant function of economic growth. In other words market capitalization ratio and liquidity positively and significantly impact economic growth. Market development variables such as turnover ratio and market restriction can exert positive but insignificant impact on the growth of the economy suggesting that securities transaction relative to the size of the securities market are not high enough to significantly engender economic growth in Nigeria. In the light of this, the researchers recommend that the regulatory body as well as the government, should provide a conducive environment capable of encouraging the growth and development of the stock market. This if well articulated will enhance the market turnover and the growth of the economy.

Keywords: market capitalization ratio, turnover ratio, liquidity, unit root test, cointegration

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Authors: S. Baississe, S. Godbane, A. Lekbir

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The objective of our work is to develop an ice cream from a fermented cream, skim milk and other ingredients and follow the evolution of its physicochemical properties, biochemical and microstructure of the products obtained. Our cream is aerated with the manufacturing steps start with a homogenizing follow different ingredients by heating to 40°C emulsion, the preparation is then subjected to a heat treatment at 65°C for 30 min, before being stored in the cold at 4°C for a few hours. This conservation promotes crystallization of the material during the globular stage of maturation of the cream. The emulsifying agent moves gradually absorbed on the surface of fat globules homogeneous, which results in reduced protein stability. During the expansion, the collusion of destabilizing fat globules in the aqueous phase favours their coalescence. During the expansion, the collusion of destabilized fat globules in the aqueous phase favours their coalescence. The stabilizing agent increases the viscosity of the aqueous phase and the drainage limit interaction with the proteins of the aqueous phase and the protein absorbed on fat globules. The cutting improved organoleptic property of our cream is made by the use of three dyes and aromas. The products obtained undergo physicochemical analyses (pH, conductivity and acidity), biochemical (moisture, % dry matter and fat in %), and finally in the microscopic observation of the microstructure and the results obtained by analysis of the image processing software. The results show a remarkable evolution of physicochemical properties (pH, conductivity and acidity), biochemical (moisture, fat and non-fat) and microstructure of the products developed in relation to the raw material (skim milk) and the intermediate product (fermented cream).

Keywords: ice cream, sour cream, physicochemical, biochemical, microstructure

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Authors: H. Jawan

Abstract:

This review describes the models of environmental-related crack propagation of aluminum alloys (7xxx) during the last few decades. Acknowledge on effects of different factors on the susceptibility to SCC permits to propose valuable mechanisms on crack advancement. The reliable mechanism of cracking give a possibility to propose the optimum chemical composition and thermal treatment conditions resulting in microstructure the most suitable for real environmental condition and stress state.

Keywords: microstructure, environmental, propagation, mechanism

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Authors: Daurenbek Kuleimenov, Elmira Otar

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Market institutions extension within transit societies contributes to constituting the new type of middle class and households livelihood strategies. The middle class households as an example of prosperity in many cases encourage the ordinary ones to do the same economic actions. Therefore, practices of using market institutions by middle class households in transit societies, which are mostly characterized by huge influence of traditional attitudes, can carry habitual features for the whole society. Market institutions consumption habit of the middle class households makes them trendsetters of economic habits of other households while adapting to the market economy. Moreover different social-economic positions of households lead them to different consuming results such as worsening or improving household economy due to indebtedness.

Keywords: middle class, households, market institutions, transition

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Authors: Panagiota Koliousi, Natasha Miaouli

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We compare product and labour market liberalization under the two trade union bargaining models: the Right-to-Manage (RTM) model and the Efficient Bargaining (EB) model. The vehicle is a dynamic general equilibrium (DGE) model that incorporates two types of agents (capitalists and workers), imperfectly competitive product and labour markets. The model is solved numerically employing common parameter values and data from the euro area. A key message is that product market deregulation is favourable under any labour market structure while opting for labour market deregulation one should provide special attention to the structure of the labour market such as the bargaining system of unions. If the prevailing way of bargaining is the RTM model then restructuring both markets is beneficial for all agents.

Keywords: market structure, structural reforms, trade unions, unemployment

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Authors: Wei-Bo Hua, Zhuo Zheng, Xiao-Dong Guo, Ben-He Zhong

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The layered structure LiNi1/3Co1/3Mn1/3-xAlxO2 (x = 0 ~ 0.04) series cathode materials were synthesized by a carbonate co-precipitation method, followed by a high temperature calcination process. The influence of Al substitution on the microstructure and electrochemical performances of the prepared materials was investigated by X-Ray diffraction (XRD), scanning electron microscopy (SEM), and galvanostatic charge/discharge test. The results show that the LiNi1/3Co1/3Mn1/3-xAlxO2 has a well-ordered hexagonal "α" -NaFeO2 structure. Although the discharge capacity of Al-doped samples decreases as x increases, LiNi1/3Co1/3Mn1/3-0.02Al0.02O2 exhibits superior capacity retention at high voltage (4.6 V). Therefore, LiNi1/3Co1/3Mn1/3-0.02Al0.02O2 is a promising material for “green” vehicles.

Keywords: lithium ion battery, carbonate co-precipitation, doping, microstructure, electrochemical properties

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Authors: Engang Wang

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The Cu-alloy composites are a kind of high-strength and high-conductivity Cu-based alloys, which have excellent mechanical and electrical properties and is widely used in electronic, electrical, machinery industrial fields. However, the solidification microstructure of the composites, such as the primary or second dendrite arm spacing, have important rule to its tensile strength and conductivity, and that is affected by its fabricating method. In this paper, two kinds of directional solidification methods; the exothermic powder method (EP method) and liquid metal cooling method (LMC method), were used to fabricate the Cu-alloy composites with applied different magnetic fields to investigate their influence on the solidifying microstructure of Cu-alloy, and further the fabricated Cu-alloy composites was drawn to wires to investigate the influence of fabricating method and magnetic fields on the drawing microstructure of fiber-reinforced Cu-alloy composites and its properties. The experiment of Cu-Ag alloy under directional solidification and horizontal magnetic fields with different processing parameters show that: 1) For the Cu-Ag alloy with EP method, the dendrite is directionally developed in the cooling copper mould and the solidifying microstructure is effectively refined by applying horizontal magnetic fields. 2) For the Cu-Ag alloy with LMC method, the primary dendrite arm spacing is decreased and the content of Ag in the dendrite increases as increasing the drawing velocity of solidification. 3) The dendrite is refined and the content of Ag in the dendrite increases as increasing the magnetic flux intensity; meanwhile, the growth direction of dendrite is also affected by magnetic field. The research results of Cu-Ag alloy in situ composites by drawing deforming process show that the micro-hardness of alloy is higher by decreasing dendrite arm spacing. When the dendrite growth orientation is consistent with the axial of the samples. the conductivity of the composites increases with the second dendrite arm spacing increases. However, its conductivity reduces with the applied magnetic fields owing to disrupting the dendrite growth orientation.

Keywords: Cu-Ag composite, magnetic field, microstructure, solidification

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Authors: Jung-Ho Moon, Myung-Gon Yoon, Tae Kwon Ha

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High temperature deformation behavior of cast 310S stainless steel has been investigated in this study by performing tensile and compression tests at temperatures from 900 to 1200°C. Rectangular ingots of which the dimensions were 350×350×100 in millimeter were cast using vacuum induction melting. Phase equilibrium was calculated using the FactSage®, thermodynamic software and database. Thermal expansion coefficient was also measured on the ingot in the temperature range from room temperature to 1200°C. Tensile strength of cast 310S stainless steel was 9 MPa at 1200°C, which is a little higher than that of a wrought 310S. With temperature decreased, tensile strength increased rapidly and reached up to 72 MPa at 900°C. Elongation also increased with temperature decreased. Microstructure observation revealed that σ phase was precipitated along the grain boundary and within the matrix over 1200°C, which is detrimental to high temperature elongation.

Keywords: stainless steel, STS 310S, high temperature deformation, microstructure, mechanical properties

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Authors: A. P. I. Popoola, O. S. I. Fayomi, V. S. Aigbodion

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Mild steel has found many engineering applications due to its great formability, availability, low cost and good mechanical properties among others. However its functionality and durability is subject of concern due to corrosion deterioration. Based on these Yttrium is selected as reinforcing particles using electroplating process in this work to enhance the corrosion resistance. Bath formulation of zinc-yttrium was prepared at moderated temperature and pH, to coat mild steel sample. Corrosion and wear behaviour were analyzed using electrochemical potentiostat and abrasive test rig. The composition and microstructure of coated films were investigated standard method. The microstructure of the deposited plate obtained from optimum (10%Yttrium) bath revealed fine-grained deposit of the alloy in the presence of condensation product and hence modified the morphology of zinc–yttrium alloy deposit. It is demonstrated that by adding yttria particles, mild steel can be strengthened with improved polarization behaviour and higher resistance to corrosive in sodium chloride solutions. Microhardness of the coating compared to plain mild steel have increased before and after heat treatment, and an increased wear resistance was also obtained from the modified coating of zinc-yttrium.

Keywords: microhardness, zinc-yttrium, coating, mild steel, microstructure, wear, corrosion

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Authors: Steven Mavhungu, Didier Nyembwe, Daniel Sekotlong

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The steering knuckle is an integral component of the suspension and stability control system of modern vehicles. Good mechanical properties with an emphasis on the fatigue properties are essential for this component as it is subjected to cyclical load of significant magnitude during service. These properties are a function of the microstructure achieved in the component during the various manufacturing processes including forging and casting. The strut mount of the knuckle is required to meet specified microstructure and mechanical properties. However, in line with the recent trend of stringent quality requirements of cast components, Original Equipment Manufacturers (OEMs) have had to extend the specifications to other sections of the knuckle. This paper evaluates the effect of cored wire inoculation on the microstructure and mechanical properties of the steering arm of a typical spheroidal cast iron component. The investigation shows that the use of a cored wire having higher rare earth content formulation could possibly lead to a homogeneous matrix containing consistent graphite nodule morphology. However, this was found not to be the condition for better mechanical properties along the knuckle arm in line with required specifications. The findings in this paper contribute to a better understanding of steering knuckle properties to allow its production for safer automobile applications.

Keywords: inoculation, magnesium cored wire, spheroidal graphie, steering knuckle

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Authors: Sami Ibrahim Jafar, Israa Abud Alkadir, Samah Abdul Kareem Khashin

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The aim of this work is to assess the influence of tensile pre-stresses on the microstructure and corrosion behavior of the AISI304 stainless steel in 1N H2SO4 austenitic stainless steel. Samples of this stainless steel either with pre-stresses, corresponding to [255, 305, 355, 405, 455, 505, 555, 605 and σf] MPa induced by tensile tests, or without pre-stresses (as received), were characterized regarding their microstructure to investigate the pre-tensile stress effects on the corrosion behavior. The results showed that the corrosion rate of elastic pre-stresses 304 stainless steel was very little increased compared with that of as received specimens. The corrosion rate increases after applying pre-stress between (σ255 - σ 455) MPa. The microstructure showed that the austenitic grains begin to deform in the direction of applied pre-stresses. The maximum hardness at this region was (229.2) Hv, but at higher pre-stress (σ455 – σ 605) MPa unanticipated occurrence, the corrosion rate decreases. The microstructure inspection shows the deformed austenitic grain and ά-martensitic phase needle are appeared inside austenitic grains and the hardness reached the maximum value (332.433) Hv. The results showed that the corrosion rate increases at the values of pre-stresses between (σ605 – σf) MPa., which is inspected the result. The necking of gauge length of specimens occurs in specimens and this leads to deterioration in original properties and the corrosion rate reaches the maximum value.

Keywords: tensile pre-stresses, corrosion rate, austenitic stainless steel, hardness

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Authors: Sebastien Relave, Christophe Desrayaud, Aurelien Vilani, Alexey Sova

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Laser beam melting (LBM) is an additive manufacturing process that enables complex 3D parts to be designed. This process is now commonly employed for various applications such as chemistry or energy, requiring the use of stainless steel grades. LBM can offer comparable and sometimes superior mechanical properties to those of wrought materials. However, we observed an anisotropic microstructure which results from the process, caused by the very high thermal gradients along the building axis. This microstructure can be harmful depending on the application. For this reason, control and prediction of the microstructure are important to ensure the improvement and reproducibility of the mechanical properties. This study is focused on the 316L SS grade and aims at understanding the solidification and transformation mechanisms during process. Experiments to analyse the nucleation and growth of the microstructure obtained by the LBM process according to several conditions. These samples have been designed on different type of support bulk and lattice. Samples are produced on ProX DMP 200 LBM device. For the two conditions the analysis of microstructures, thanks to SEM and EBSD, revealed a single phase Austenite with preferential crystallite growth along the (100) plane. The microstructure was presented a hierarchical structure consisting columnar grains sizes in the range of 20-100 µm and sub grains structure of size 0.5 μm. These sub-grains were found in different shapes (columnar and cellular). This difference can be explained by a variation of the thermal gradient and cooling rate or element segregation while no sign of element segregation was found at the sub-grain boundaries. A high dislocation concentration was observed at sub-grain boundaries. These sub-grains are separated by very low misorientation walls ( < 2°) this causes a lattice of curvature inside large grain. A discussion is proposed on the occurrence of these microstructures formation, in regard of the LBM process conditions.

Keywords: selective laser melting, stainless steel, microstructure

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Authors: Emmanuel Ogundimu, Esther Akinlabi, Mutiu Erinosho

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The aim of this paper is to study the effect of welding current on the microstructure and the mechanical properties. Material characterizations were conducted on a 6 mm thick plates of type-304 austenite stainless steel, welded by TIG welding process at two different welding currents of 150 A (Sample F3) and 170 A (Sample F4). The tensile strength and the elongation obtained from sample F4 weld were approximately 584 MPa and 19.3 %; which were higher than sample F3 weld. The average microhardness value of sample F4 weld was found to be 235.7 HV, while that of sample F3 weld was 233.4 HV respectively. Homogenous distribution of iron (Fe), chromium (Cr) and nickel (Ni) were observed at the welded joint of the two samples. The energy dispersive spectroscopy (EDS) analysis revealed that Fe, Cr, and Ni made up the composition formed in the weld zone. The optimum welding current of 170 A for TIG welding of type-304 austenite stainless steel can be recommended for high-tech industrial applications.

Keywords: microhardness, microstructure, tensile, MIG welding, process, tensile, shear stress TIG welding, TIG-MIG welding

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Authors: Lavdosh Lazemetaj

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The labor market in W.B. Countries presents problems and challenges, this is dictated by different risk factors. The levels of unemployment in the region are high and the rates of its reduction are a challenge. This paper presents these challenges and problems that the countries face. of the BP region. The region as a whole and the countries in their particularity are analyzed, according to the specifics, the development trends related to the labor market are looked at. Conclusions are also given that emerge from the analysis of the labor markets prior to the monitoring done by the EU and the World Bank.

Keywords: Economic Development, European Union, Economic Growth, Labor Market

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Authors: Kerim Emre Öksüz, Mehmet Çevik, A. Enbiya Bozdağ, Ali Özer, Mehmet Şimşir

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Metal matrix composites (MMCs) have gained a considerable interest in the last three decades. Conventional powder metallurgy production route often involves the addition of reinforcing phases into the metal matrix directly, which leads to poor wetting behavior between ceramic phase and metal matrix and the segregation of reinforcements. The commonly used elements for ceramic phase formation in iron based MMCs are Ti, Nb, Mo, W, V and C, B. The aim of the present paper is to investigate the effect of sintering temperature and V-B addition on densification, phase development, microstructure, and hardness of Fe–V-B composites (Fe-(5-10) wt. %B – 25 wt. %V alloys) prepared by powder metallurgy process. Metal powder mixes were pressed uniaxial and sintered at different temperatures (ranging from 1300 to 1400ºC) for 1h. The microstructure of the (V, B) Fe composites was studied with the help of high magnification optical microscope and XRD. Experimental results show that (V, B) Fe composites can be produced by conventional powder metallurgy route.

Keywords: hardness, metal matrix composite (MMC), microstructure, powder metallurgy

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Authors: M. Khoshab, M. J. Sedigh

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Dynamic systems, which in mathematical point of view are those governed by differential equations, are much more difficult to study and to predict their behavior in comparison with static systems which are governed by algebraic equations. Economical systems such as market are among complicated dynamic systems. This paper tries to adopt a very simple mathematical model for market and to study effect of supply and demand function on behavior of the market while the supply side experiences a lag due to production restrictions.

Keywords: dynamic system, lag on supply demand, market stability, supply demand model

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Authors: Phyo Wai Aung, Sysoev Oleg Evgenevich, Boris Necolavet Maryin

Abstract:

The article deals with theoretical problems of correlation of processes of microstructure changes of structural materials under cyclic loading and acoustic emission. The ways of the evolution of a microstructure under the influence of cyclic loading are shown depending on the structure of the initial crystal structure of the material. The spectra of the frequency characteristics of acoustic emission signals are experimentally obtained when testing titanium samples for cyclic loads. Changes in the fractal dimension of the acoustic emission signals in the selected frequency bands during the evolution of the microstructure of structural materials from the action of cyclic loads, as well as in the destruction of samples, are studied. The experimental samples were made of VT-20 structural material widely used in aircraft and rocket engineering. The article shows the striving of structural materials for synergistic stability and reduction of the fractal dimension of acoustic emission signals, in accordance with the degradation of the microstructure, which occurs as a result of fatigue processes from the action of low cycle loads. As a result of the research, the frequency range of acoustic emission signals of 100-270 kHz is determined, in which the fractal dimension of the signals, it is possible to most reliably predict the durability of structural materials.

Keywords: cyclic loadings, material structure changing, acoustic emission, fractal dimension

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