Tag: UAE: Tight domestic scrap supply supports prices despite cautious mill demand

Weak downstream demand limits upside across UAE steel markets UAE mills remain cautious despite firmer raw material availability UAE local scrap prices remained largely stable this week, with limited movement across most grades. Processed HMS 80:20 was an exception, rising by AED 11/t ($3/t) w-o-w. However, the increase has not been enough to change the…