Tag: UAE: Domestic scrap buying remains selective as weak steel demand and ample mill stocks weigh on activity

Weak rebar demand continues to cap domestic scrap price upside Chinese rebar competition adds pressure on local UAE mills UAE domestic scrap prices remained broadly stable during the week ended 1 October, with limited mill buying and weak finished-steel demand offsetting support from international scrap markets. A major Abu Dhabi-based mill source said the market…