Tag: UAE steel sector
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UAE: Domestic scrap prices rise by $3/t w-o-w; uncertain steel market slows scrap trades
The UAE steel sector faces uncertainty amid current challenges. Emirates Steel Arkan leads DRI-focused expansion for green steel production. The UAE wire rod market adjusts to oversupply with customised negotiations amid subdued demand. This week, domestic scrap prices in the UAE rose by $3-4/tonne (AED 10-15/t) amidst uncertain rebar market conditions, influenced by a slow…