Tag: UAE: Domestic scrap prices edge higher despite selective bookings; rebar market remains under pressure

Rebar market faces pressure from ample supply High billet costs limit scope for price cuts UAE scrap prices edged higher during the week, with processed HMS 80:20 assessed at AED 1,030/t ($280/t) DAP Abu Dhabi, up AED 9/t ($2/t) w-o-w. Workable levels were heard at around AED 1,025-1,030/t ($279-280/t) for HMS processed, while shredded was…