Tag: The UAE: Domestic ferrous scrap index falls by $3/t w-o-w on on weaker steel demand

The UAE domestic scrap index fell by $3/t w-o-w amid continued pressure due to sluggish local construction activities and weak sentiments in key scrap-importing countries. The summer heat and reduced construction work have compounded the situation, with many decision-makers on holiday. Additionally, cheaper Chinese steel is pressuring down domestic prices. After a short halt, UAE…