Rebar Ends at Lowest in 11 Weeks as Producers Reduce Prices
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Steel reinforcement-bar futures closed at lowest level in 11 weeks after some Chinese steel producers cut prices, increasing concern that inventories are rising as supply outpaces demand.
Rebar for delivery in January on the Shanghai Futures Exchange ended little changed at 3,626 yuan ($591) a metric ton, the lowest close for a most-active contract since July 9. Futures have lost 3.4 percent this month.