Tag: UAE steel outlook
-
UAE: Scrap index slips $2/t w-o-w; VAT move keeps market cautious
Emirates Steel rolls over January rebar prices VAT policy to favour domestic scrap consumption The UAE’s domestic scrap index declined by AED 9/t ($2/t) on 24 December as compared to 17 December, with processed heavy melting scrap (HMS) falling to AED 1,130/t ($308/t) as of 24 December. A market insider noted that the last heard…