Rebar Caps First Weekly Gain in Three on Mill Price, Inventory
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Steel reinforcement-bar futures in Shanghai advanced as China’s biggest producer of the building material maintained product prices and as inventory fell to the lowest level in 34 months.
Rebar for May delivery, the most-active contract on the Shanghai Futures Exchange, rose 2 yuan to close at 3,614 yuan ($593) a metric ton, bringing this week’s gains to 0.6 percent. Futures lost 2.2 percent in the prior two weeks.