Rebar Pares Monthly Drop on Australian Iron Ore Supply Concern
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Steel reinforcement-bar futures gained for a second day, paring a monthly decline, amid concern that supply of iron ore from Australia, the biggest shipper, could be disrupted due to a cyclone.
Rebar for delivery in October rose by 1.7 percent to close at 4,053 yuan ($651) a metric ton on the Shanghai Futures Exchange. The October contract has retreated 3.3 percent this month.