Rebar Falls in Shanghai as Chinese Banks Begin Property Curbs
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Steel reinforcement-bar futures retreated for the second time in three days in China as banks began implementing measures to prevent a housing bubble, which may cut demand for the material used in construction.
The contract for delivery in October fell 0.8 percent to close at 3,882 yuan ($625) a metric ton on the Shanghai Futures Exchange, extending this month’s loss to 4.2 percent.