Tag: UAE: BigMint’s scrap index inches up w-o-w; market awaits clearer signals from mills

Domestic market cautious despite rebar price increase Weak export demand, Diwali slowdown weigh on trade BigMint’s UAE domestic processed HMS index rose AED 4/t ($1/t) w-o-w to AED 1,190/t ($324/t). Domestic scrap prices remained largely stable during the Diwali holiday slowdown, trading within AED 1,185-1,195/t ($323-325/t), amid weak export demand and muted local buying. Traders…