Tag: Strait of Hormuz logistics impact

BigMint’s UAE scrap index drops over $20/t w-o-w as strong buying momentum stalls

Mar 13, 2026

—

by

Anshuman

in Melting Scrap

Construction activity stable, material flows unaffected Recent bulk deals cover mills’ short-term scrap needs BigMint’s index for the UAE’s domestic ferrous scrap dropped sharply by AED 82/t ($22/t) w-o-w to AED 1,164/t ($317/t) on 11 March. Market sources attributed the decline to price correction following heavy scrap purchases by key steelmakers in the previous week.…