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UAE domestic ferrous scrap index falls to 10-m low on limited inquiries from mills

Source: BigMint Dec 17, 2024 10:00

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Local rebar prices decline as producers reduce inventories. Weak global market impacts UAE scrap prices.

Domestic ferrous scrap prices in the UAE continued to decline, dropping AED 44/t ($12/t) w-o-w, driven by dull global fundamentals and sluggish purchasing activity by domestic mills. Demand for HMS processed scrap in the UAE has remained weak in recent months, causing mid-week prices for HMS (80:20) processed scrap to

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