Tag: UAE HMS (80:20) spread
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UAE: Domestic ferrous scrap index hits 3-month low on sluggish demand
This week, the UAE domestic scrap market saw a significant price drop of AED 49/t ($13/t), reaching levels not seen since 27 May, 2024. The decline, which marked a 3-month low, is attributed to weak demand and sluggish trading activity. BigMint’s bi-weekly assessment revealed a significant drop in HMS (80:20) processed scrap prices, which fell…