Amid concerns over rising supply of rebar futures in Shanghai, steel prices fell to their lowest level in a month on Thursday, driven by expectations that supply will rise as mills increase production amid softer production restrictions in the winter.
China Steel and Steel Association data showed that the average monthly steel production at its plants was 1.97 million tons during October 1-20, which was almost the same as September's 1.98 million tons.
The winter heating season in China typically runs from mid-November to mid-March, and the central government, as part of its anti-pollution campaign, has allowed cities and provinces to set their release limits this year, scrapping last season's austerity measures.
Chinese steel fell in price to a monthly low
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