20
Dec
13:45
UAE scrap hike comes amid mills' year-end destocking
Scrap dealers in the United Arab Emirates are trying to push up prices at a time when all potential buyers are holding back purchases to deplete their stocks. This is because they want to start the new year with minimal raw material inventories.
Therefore, the scrap price hike of AED 25-50/tonne ($7-14) on-week has yet to bring the targeted profit to scrap dealers. Billet prices are stable, with few buyers in the market, and two enquiries totalling 25,000 tonnes o…
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Anonymous
Very good overview of the weekly steel market.
Anonymous