- HMS processed scrap trades at AED 1,020/t ($275/t) DAP Abu Dhabi
- Export policy uncertainty keeps market participants cautious
UAE domestic ferrous scrap prices remained broadly stable in the week ended 9 October, with good availability and quality supporting regular transaction levels. However, buying activity remained selective as market participants awaited clarity on whether the government would allow scrap exports to resume.
The BigMint assessment for HMS 80:20 (processed) stood at AED 1,032/t ($279/t), down by AED 1/t ($0.3/t) w-o-w from AED 1,033/t ($279/t). Prices exclude 5% VAT. Market transactions and indications remained largely unchanged.
Domestic HMS 80:20 was reported at AED 940-960/t ($254-259/t), while processed HMS 80:20 scrap was quoted at AED 1,020-1,030/t ($275-278/t). Shredded scrap stood at AED 1,130-1,140/t ($305-308/t), processed PNS at AED 1,050-1,070/t ($284-289/t) and LMS at AED 840-860/t ($227-232/t).
A Dubai-based major supplier said it sold around 3,500-4,000 t of processed HMS at AED 1,020/t ($275/t), on a DAP Abu Dhabi basis, during the week. However, the supplier reported no shredded scrap bookings despite offers at AED 1,130-1,140/t ($305-308/t).
A Dubai-based buyer source also reported processed HMS levels at AED 1,010-1,030/t ($273-278/t), while shredded scrap was indicated at AED 1,130-1,150/t ($305-311/t), DAP Abu Dhabi.
Export restriction uncertainty
An international trader said market participants were awaiting the authorities’ decision on whether scrap exports would be permitted to resume. However, the latest indications from officials had not been positive, the source said.
The policy decision remains a key factor for the market, as any change in export permissions could affect domestic scrap availability and sellers’ pricing strategies. Until clearer guidance emerges, trading activity is likely to remain cautious, particularly for shredded scrap, where the supplier reported no bookings during the week.
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