The problem with steel in China is that they might spec one steel, but will slowly and gradually move to much lower quality steel to save money. And they'll rig the QC so no one will know until stuff starts to break.
Fugio has pretty much hit the nail square on the head, not only with steel but with parallel problems we see in a great many Chinese products we see in the western world.A 'new school' Chinese business man recently commented on the practice and he noted it was part of the Chinese business culture that he dislikes. He noted Chinese people with "money" avoid certain Chinese products" as the issues behind the poor quality was well known.
He commented that the old business culture did not have any leeway for basically what meant giving the customer a fair deal.
Products are presented initially at prices so low that the manufacturer makes no or little profit. Over time, the quality begins to slide and prices are manipulated. On my side of the pond it is dammed hard to pick the good Chinese products from the bad ones.
To be fair other industrial economies started off with generally poor quality products and progressed to a very high standard, Japan,and Taiwan being just two. Its seems China can't make this transition.
Sure! not all Chinese businesses are like this and the good guys are a minority in a sea of greed and corruption.
Hopefully now the boom is ended we might see the market weed a lot of these bad guys out.