Reuters reported that Shanghai rebar futures climbing on Friday to levels last seen in August after data showed China's factory activity picked up pace in December.

The most active rebar contract for May delivery on the Shanghai Futures Exchange peaked at CNY 3,749 (USD 600) per tonne in morning deals, its highest since August 13. It was up 1.4% at CNY 3,735 by the midday break, on track for a second weekly gain.

The HSBC flash manufacturing index for China rose to 50.9, a 14 month high and the fifth straight monthly gain.