"The outlook in the steel and iron ore markets is [improving] because of positive economic data like the HSBC Purchasing Managers' Index pushing above 50, and expectations of the new Chinese leadership's potential to enhance growth," said an iron ore procure-ment source at an eastern Chinese mill. The more bullish sentiment lent support to rebar futures, with the most active May contract in Shanghai settling up Yuan 53/mt to Yuan 3,682/mt ($590).
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