Rebar Rises as China’s Crude Steel Output Drops, Inventory Falls
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Steel reinforcement-bar futures in Shanghai advanced today, reversing earlier losses, as declines in rebar inventory and crude steel output in China increased speculation that supply may tighten.
Rebar for May delivery, the most-active contract on the Shanghai Futures Exchange, rose 0.2 percent to close at 3,668 yuan ($602) a metric ton. Futures fell 0.3 percent last week.