(Bloomberg) — Investors in China have found an unlikely new hiding place from the chaos engulfing financial markets.The price of steel reinforcement bar, the somewhat unglamorous but ubiquitous commodity used to strengthen concrete, has risen almost 5% over the past month in Shanghai. Over the same period, gold — the traditional haven amid turmoil — has dropped more than 5% as investors sell to cover losses in other markets.Rebar’s unexpected ascent as a financial sanctuary comes as Chinese investors bet that Beijing is going to embark on a massive bout of stimulus to help prop up the country’s economy in …read more
Source:: Yahoo Finance
