Tag: Strait of Hormuz freight impact
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UAE: Domestic scrap prices remain range-bound; construction remain slow on hot weather
Local buying remains slow amid hot weather Hormuz-linked freight concerns keep regional trade cautious UAE domestic scrap prices remained largely stable w-o-w, with moderate trading activity and cautious buying sentiment from local mills and recyclers amid extreme hot weather in the region. BigMint assessed HMS (80:20) processed at AED 1,038/t ($283/t) DAP Abu Dhabi, inching…