Bloomberg reported that steel reinforcement bar futures dropped for the first time in three days on concern that China will maintain curbs on real estate investment next year,limiting housing construction.
Rebar for delivery in May lost 0.2 percent to close at CNY 3,869 per tonne on the Shanghai Futures Exchange.
Xinhua News Agency reported that China will keep in place home purchase restrictions and will strictly curb speculation in 2013
Mr Wu Zhili,an analyst at Shenhua Futures Co,said"The risk of housing market curbs is a real concern and the government will likely keep a tight lid on lending to the housing sector next year.These are bearish factors for the rebar market."
Source:
http://www.steelguru.com/chinese_news/SHFE_steel_rebar_futures_declines_from_5_month_high/296639.html
