Rebar Falls as China Industrial Output Shows Weaker Start to ’13
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Steel reinforcement-bar futures fell to the lowest in more than two months after China’s industrial output had the weakest start to a year since 2009.
Rebar for delivery in October on the Shanghai Futures Exchange fell by as much as 1.6 percent to 3,867 yuan ($622) a metric ton, the lowest level for a most-active contract since Dec. 27, and closed at 3,908 yuan at 3 p.m. local time. The contract declined for a third week last week.