Steel is an industry facing even more pressure to perform all while conversely facing an upward momentum in industries that need steel, i.e. construction and manufacturing. The trend in national steel operating rates is downward, but tellingly the decline is not as much as the rates at Tangshan, one of the largest state owned steel mills in China. Tangshan crossed the national trend nearly 18 months ago and has continued the downward trend. Even though capacity utilization continues this overall downward trend does not taken into account seasonal decreases going into likely winter cuts.