UAE: Ferrous scrap index falls by $4/t w-o-w on sluggish demand from mills

Source: BigMint Mar 18, 2025 08:30

Rebar market stable despite seasonal demand slowdown. UAE mills secure HRC from India, Japan and China.

The UAE's domestic ferrous scrap index declined by AED 16/t ($4/t) w-o-w, after an initial rise followed by a mid-week dip due to sluggish mill demand amid the Ramadan slowdown. Trades were recorded at AED 1,190-1,200/t ($324-327/t), but market activity weakened as Ramadan progressed. BigMint's benchmark assessment for processed HMS