Domestic scrap prices in the UAE increased by $1/t (AED 2-5/t) this week amid a fluctuating market trend.
- According to BigMint’s bi-weekly assessment, HMS (80:20) processed grade rose to AED 1,332-1335/t ($363-364/t) DAP Abu Dhabi.
- Buyers are placing bids at AED 1,300/t($354/t). Offers were heard at AED 1,340/t ($365/t) witnessing a gap in bid-offer disparities. Some mills are feeling the pressure as rebar prices remain stable w-o-w.