Tag: UAE: Domestic scrap prices up by $12/t w-o-w amid short-term shortage due to supply constraints

This week, scrap prices in the UAE witnessed a sharp hike of $12/t (AED 45/t) along with a relatively moderate market during the ongoing Ramadan weeks. The upward movement was primarily influenced by Ramadan’s shortened working schedule which has also led to a drop in incoming scrap volumes, creating a local market shortage. With the…