Tag: UAE’s scrap index drops $2/t w-o-w amid softening export activities

Demand remains sluggish as only a few mills remain active in purchases Spread between European and UAE HMS (80:20) widens to $30-32/t The UAE domestic ferrous scrap index fell by AED 8/t ($2/t) w-o-w, as buying activity remained sluggish. Except for demand from one or two major mills, most market participants stayed inactive, further dampening…