Tag: UAE: Domestic scrap prices increase by $14/t w-o-w; buyers cautious amid dull steel demand

Demand expected to drop by 40% in near term Emirates Steel keeps rebar offers unchanged This week, domestic scrap prices in the UAE surged by $14/tonne (AED 51/t) despite a slow-moving market. Concerns persisted about the impact of severe weather. Some construction sites remain closed due to flooding, which is likely to affect steel consumption.…