Keith, it is a perfectly capable steel cutting saw out of the box, especially if it came supplied with an M42 blade. I had no trouble hacking off pieces of 80×30 hot roll steel – no idea what grade. It did charge through a piece of 1/2 in silver steel, but I don't regard that as much of a challenge for this tool. cutting bright bar up to 40mm was no problem as long as workpiece is well secured.
Just readback for set up tips and tension appropriately, select a sensible speed for the material – I use 1 or 2 for steel to avoid heating the blade too much. Use dry, do not press down on the saw handle when cutting, just lightly support the weight as it cuts through the workpiece. In sticky metals, or aluminium it sometimes helps to take the pressure of the blade occasionally to allow gullets to clear before progressing- you will sense when the blade bogs down, skips or galls.
The main problem is the supplied vice especially with small bar (say 30mm and below). As supplied, the jaw has a tendency to lift and the work can shift causing all sorts of trouble. Easily fixed by applying any or all of the vice mods suggested by myself and others in previous posts.
In some ways a better device than my CY90 and certainly cuts at 3 time the speed, but if you have sensitive hearing that you wish to protect, get some ear-plugs 
Edited By Martin of Wick on 03/12/2020 11:10:53