Tag: HMS processed scrap prices
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UAE: Domestic ferrous scrap index slips $6/t w-o-w, hits 3-week low on weak demand
BigMint’s UAE domestic ferrous scrap index dropped by AED 22/tonne (t) ($6/t) w-o-w, reflecting weak demand driven by a stagnant market and need-based buying. Additionally, prices have fallen to their lowest levels in three weeks, reaching figures last seen on 2 September 2024. Most Gulf central banks lowered their key interest rates in the middle…