Iron Ore-Shanghai rebar rises 1.4 pct as commodities rebound

- May 13th, 2011

Reuters reports that Chinese rebar steel futures rose 1.4 percent on Friday as a weaker dollar helped commodities rebound after recent steep losses.

Reuters Africa reports that Chinese rebar steel futures rose 1.4 percent on Friday as a weaker dollar helped commodities rebound after recent steep losses.

The market news is quoted as saying,

Investors took the latest bank reserve requirement hike by China, its eighth since October, in their stride, with Shanghai commodity prices rising sharply on hopes Beijing may be nearing the end of its monetary tightening campaign.

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