Rebar Extends Three-Week Rally as Stronger Economy Lifts Demand
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Steel reinforcement-bar futures in Shanghai rose, extending a third weekly gain, on optimism that a strengthening economy may support demand from the world’s biggest consumer of the material used in housing and railroads.
Rebar for May delivery, the most-active contract on the Shanghai Futures Exchange, rose 0.5 percent to 3,722 yuan ($613) a metric ton. Futures climbed 0.9 percent last week.