Reuters reported that Shanghai rebar futures rose for a second day on Wednesday buoyed by signs of a pickup in steel demand in top market China that have prompted mills to restock iron ore and sustaining a recovery in prices that fell by a quarter in August.

The most briskly traded rebar contract for January delivery on the Shanghai Futures Exchange had climbed 0.6% to CNY 3,602 per tonne by the midday break.

Rebar has now gained more than 12% since hitting a record low on September 6.

Source - Reuters

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