Rebar Pares Fourth Weekly Drop as Sharp Decline Spurs Purchases
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Steel reinforcement-bar futures climbed for the first time in eight days, paring a fourth weekly drop, as the lowest prices in three months spurred purchases.
Rebar for delivery in October on the Shanghai Futures Exchange advanced 2.5 percent, the biggest gain since Feb. 8, to close at 3,860 yuan ($621) a metric ton today. The price dropped 1.7 percent this week.