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Shanghai rebar steel futures rise on positive China data

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Publish time: 26th October, 2012      Source: ChinaCCM
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It's reported that Shanghai rebar steel futures rose on October 24th 2012 after China's economy data showed a gradual recovery from seven straight quarters of slowdown.

The most traded rebar for May 2013 delivery on the Shanghai Futures Exchange (SHFE) rose 0.6% by the midday break to RMB3, 683/ton, after falling nearly 2% on October 23rd 2012.

According to the HSBC Flash Manufacturing Purchasing Managers Index that it reached a three month high to 49.1 for October 2012 and order books were the most prosperous since April this year.