Tag: UAE: Domestic scrap index drops $5/t w-o-w amid geopolitical tensions

Traders fulfil earlier bookings amid lack of inquiries Expectations of drop in steel prices cap scrap demand BigMint’s UAE domestic processed HMS index dropped by AED 18/tonne (t) ($5/t) w-o-w to AED 1,206/t ($328/t) amid nearby geopolitical unrest, followed by dull inquiries by mills. HMS 80:20 remained steady at AED 1,150-1,160/t ($313-316/t), while fabrication stood…