Tag: UAE: Weak steel demand and ample scrap supply drag domestic HMS prices down $9/t w-o-w

Processed HMS 80:20 falls to lowest level since assessment launch Need-based mill buying limits recovery despite regular mill bookings UAE domestic processed scrap prices extended their decline in the week ending 31 July, pressured by subdued steel demand and abundant local scrap availability following the ferrous scrap export ban. Although major steelmakers continued to procure…