Rebar Rises From Lowest in Four Months on Iron Ore Price, Demand
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Steel reinforcement-bar futures in Shanghai rose as some investors bought the building material after prices slumped to the lowest in over four months and as iron ore prices remained near the highest level in a month.
The contract for October delivery on the Shanghai Futures Exchange rose by 0.3 percent to close at 3,750 yuan ($607) a metric ton. Futures earlier touched 3,665 yuan, the lowest for a most-active contract since Dec. 12, and yesterday slumped 2.6 percent.