The UAE's domestic scrap market has entered a period of stagnation with prices showing a slight increase. Demand from major buyers remained low as exports weakened and domestic sales were limited. Processed scrap prices remained at AED 1,233/t (USD 336/t), while the gap between import and domestic scrap prices started to narrow.
The UAE's domestic scrap market showed a slight increase compared to last week as prices remained little changed. Prices increased by only AED 6/t (USD 2/t) and there were some limited transactions in recent days. According to market experts, scrap demand from major buyers remains weak due to a decline in export activity and limited sales in the domestic market.
Last week, prices for processed scrap were set at AED 1,233/t (USD 336/t), with a volume of 4,000 tons traded in a price range of AED 1,225-1,235/t (USD 333-340/t). Domestic market prices were AED 1,160-1,170/t (USD 316-318/t) for unprocessed scrap, AED 1,220-1,230/t (USD 332-335/t) for processed scrap and AED 1,290-1,300/t (USD 351-354/t) for scrap parts.
Processed scrap prices were reportedly stable between AED 1,225-1,240/t (USD 334-338/t), with some scrap purchases at AED 1,230-1,240/t (USD 335-338/t).
Recently, scrap prices traded in the UAE's domestic scrap market increased by 5% from last week to AED 930-940/t (USD 253-255/t).With this development, the price gap between imported scrap and the domestic market started to narrow.
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