These economic statistics are hard to fathom (are questionable) but they are all there is so we have to pay attention. One questionable fact is that China’s statistics are never revised while those of other nations are revised extensively and continuously. It’s almost as if the central government decides on a policy then publishes statistics to demonstrate that the policy is working. Bottom line for the US steel industry is that whatever the truth of government reports, a surge in Chinese steel exports could bury us. It seems likely that steel company reported numbers and trade tonnages are more reliable than government reported data. SMU will update this report every two to three months in the hope that it will throw some light on future Chinese steel industry behavior.