This morning in metals news, the price of SHFE rebar continued its rise Tuesday, the Aluminum Association released its first new material registration record in almost two decades and Brazilian steelmakers are struggling with an iron ore shortage.
Shanghai Rebar Rises
The price of Shanghai rebar reached its highest level in over seven years amid expectations of infrastructure-related stimulus measures in China, Reuters reported.
The Shanghai rebar price closed up 1.4% Tuesday at 3,829 yuan ($570.45) per ton, according to the report.
Aluminum Association Announces Material Designation System for 3D Printing
The Aluminum Association this week released its first material designation record in almost two decades.
The designation covers so-called “purple sheets,” which cover aluminum powder used in 3D printing.
Iron Ore in Brazil
Brazilian steelmakers are facing a shortage of the key steelmaking ingredient iron ore in the months after Vale SA’s fatal dam breach at its Corrego do Feijao mine, Reuters reported.
The company’s decision to halt operation at 10 of its sites in the southeastern state of Minas Gerais has disrupted supplies of iron ore pellets to steelmakers, according to the report.