neddo
I think you are missing the big picture here.
The steel industry is winding down along with most global economies of which China is a big one.
The steel industry in China is slowing as the major user was the construction industry, which is in decline in China and is being propped up by government money. There is more evidence of this when you look at the IO and Coal prices, lower prices because the demand has lessened. I don't know if you live in Australia or not but if you do and you don't realise this then you are reading the wrong news and probably don't realise what Coal and IO are used for in China.
Good luck
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