Rebar Posts Monthly Loss Amid Concern on Local Government Debt
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Steel reinforcement-bar futures capped a monthly decline amid speculation that rising local government debt may prompt China to rein in spending.
Rebar for May delivery on the Shanghai Futures Exchange closed little changed at 3,570 yuan ($590) a metric ton today after losing as much as 0.3 percent and gaining as much as 0.5 percent. The most-active contract fell 2.7 percent this month. The commodity used in building dropped 10.5 percent this year.