The scrap market in the United Arab Emirates (UAE) showed an upward trend this week. Rising export demand pushed prices higher. While HMS 1/2 80:20 scrap remained unchanged at 1,125 AED/ton compared to the previous week, other scrap categories recorded significant price increases.
The price of HMS processed scrap increased by 20 AED, reaching the range of 1,170-1,200 AED/ton. Manufacturing scrap saw a more limited rise, with prices increasing by 10 AED at the upper level, trading in the range of 1,220-1,240 AED/ton. Meanwhile, D-bar end-cut scrap climbed by 20 AED weekly, reaching 1,290 AED/ton (351 USD).
Last week, price fluctuations were observed due to a decline in exports and shifts in domestic demand. However, this week, the market is showing signs of recovery. The increasing interest from international buyers has particularly supported the upward movement in prices.
Industry representatives are closely monitoring market activity as Ramadan approaches. Fluctuations may continue in the coming period, but the general expectation is that the market will strengthen further after Ramadan.
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