The domestic scrap market in the UAE has witnessed significant price fluctuations throughout 2024, with HMS 80:20 scrap prices displaying notable volatility.
Prices have varied from a low of 332 USD/ton to a high of 354 USD/ton over the past several weeks.
The current price stands at 343 USD/ton, reflecting a 26 AED/ton increase from the previous week.
The fluctuations in scrap prices are driven by changes in supply and demand dynamics within the domestic market. Factors such as production rates, import/export regulations, and overall economic conditions play a critical role.
These price movements impact both buyers and sellers in the scrap metal industry. For producers, higher scrap prices can lead to increased production costs, while for buyers, it can mean higher input costs for manufacturing processes.
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