Rebar Extends Decline as Leading Index Signals Slower Recovery
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Steel reinforcement-bar futures dropped after a leading indicator for China’s economy rose at a slower pace, boosting concern that demand growth for the construction material may slow.
Rebar for delivery in May fell 0.8 percent to 3,789 yuan ($608) a metric ton on the Shanghai Futures Exchange. Futures have lost 10 percent this year after growth in China, the second-biggest economy, slowed.