Economics
Rebar Climbs to 8-Month High on China Manufacturing, Home Prices
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Steel-reinforcement bar futures advanced to the highest level in more than eight months as manufacturing grew for a fourth straight month and home prices gained in China, the biggest user of the construction material.
The contract for delivery in May climbed 1 percent to close at 4,168 yuan ($670) a metric ton on the Shanghai Futures Exchange, the highest closing most-active price since May 10. Futures capped a third straight weekly gain, rising 2.3 percent for the biggest advance since the period ended Dec. 28.