Iron Ore-Shanghai Rebar Hits 1-Month Low on U.S. Downgrade

Reuters Africa reports Shanghai rebar futures fell over 1 percent to a more than one-month low in reaction to Standard and Poors downgrading of the US.

The market news is quoted as saying,

The most active January rebar futures contract on the Shanghai Futures Exchange traded down to 4,770 yuan ($741) on Monday, its lowest since July 4, and down 1.28 percent by the midday break from the previous close.

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