China Steel Prices Rising as Iron Ore Advances to Two-Month High
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Steel reinforcement-bar futures in China rose for the second day as iron ore extended a rally and as inventory of the building material fell to the lowest level since January.
Rebar for May delivery, the most-active contract by volume and open interest on the Shanghai Futures Exchange, rose by 0.2 percent to close at 3,677 yuan ($603) a metric ton. The contract lost 1.5 percent last month.