Rebar Declines to One-Month Low as China Plans Property Controls
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Steel reinforcement-bar futures in Shanghai dropped to the lowest level in more than a month as investors cut their exposure to the building material amid signs of tighter Chinese controls on property investment.
Rebar for October delivery dropped by 0.5 percent to 4,016 yuan ($644) a metric ton on the Shanghai Futures Exchange, the lowest price at close for the most-active contract since Jan. 22. Futures lost 5.6 percent last week.