Rebar Drops to Five-Week Low as Property Curbs Weaken Outlook
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Steel reinforcement-bar futures fell to the lowest in five weeks in Shanghai on concern that more efforts to rein in excessive investment in Chinese property projects will weaken demand.
Rebar for delivery in January on the Shanghai Futures Exchange declined 0.4 percent to close at 3,713 yuan ($607) a metric ton, the lowest close for a most-active contract since Aug. 6. Futures have fallen 6.9 percent this year.