Rebar Slumps to Lowest Since December on China PMI, Inventories
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Steel reinforcement-bar futures in Shanghai declined to the lowest level in more than three months after a Chinese manufacturing gauge missed estimates and inventories of the building material swelled.
The contract for delivery in October dropped by 2.3 percent to close at 3,723 yuan ($600) a metric ton on the Shanghai Futures Exchange, the lowest closing price for a most-active contract since Dec. 13. Futures lost 4.5 percent in the first quarter.