Tag: The UAE: Domestic ferrous scrap index falls by $7/t w-o-w; export market faces Customs’ scrutiny

The UAE domestic scrap index has fallen by $7/t w-o-w as the domestic scrap market is under pressure. Local mills are less active due to weak downstream demand. Major steel mills are quoting AED 20-30/tonne (t) above the standard market rates but these are lower than what they usually offer. It may be mentioned that…