Rebar Posts Weekly Decline as Shanghai Curbs Housing Purchases
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Steel reinforcement-bar futures fell this week after China’s biggest city introduced new limits to purchasing homes, worsening the demand outlook for the construction material.
Rebar for May delivery, the most-active contract on the Shanghai Futures Exchange, fell 0.5 percent to 3,661 yuan ($601) per metric ton. Futures declined 0.3 percent this week.