Tag: GCC HRC prices
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Scrap prices in the UAE improve marginally but VAT uncertainty clouds outlook
Domestic scrap demand offsets policy noise Steel market remains cautious ahead of Feb’26 UAE scrap prices strengthened modestly in the week ended 30 January, rising by around AED 6/t ($2/t) w-o-w despite continued uncertainty linked to VAT-related clarifications. “There is some hesitation on fresh offers due to VAT clarity, but underlying domestic demand in the…