China has cut US$60/ton for steel plate to Middle East because the government revoked a 5 percent export tax and mills had facing the heavy pressure of sales.
China mainly sells medium plate to Korea and Europe, however, the demand almost has been gone due to overstock and uncertain financial times.
Recently, China only receives some inquiries from Middle East buyers and they currently offer FOB US$550~600/ton, but it nevertheless doesn’t catch buyers" eye. It’s said that it still has room to bargain. Source: Yieh.com