Rebar Trades Near Lowest in Nine Months Ahead of China Holiday
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Steel reinforcement-bar futures in Shanghai traded near the lowest level in nine months as the price of iron ore fell and investors continued to reduce positions in the last trading day before a holiday.
Rebar for delivery in October on the Shanghai Futures Exchange was unchanged at closing today at 3,421 yuan ($557) a metric ton. Contract touched 3,391 yuan earlier today, the lowest level for a most-active contract since September. Futures are little changed this week after falling for the past three weeks.