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08 May

UAE local scrap rises, billet slides

United Arab Emirates' local scrap consumers – mills, among them merchant billet producers – have increased their scrap purchase prices. This comes as containerised scrap exports, particularly from the port of Sharjah to Pakistan, and from Jebel Ali to India, are in full swing despite the AED 400/tonne ($109) export duty deterrent. Scrap exporters are not paying the export duty and are instead making false declarations to circumvent the tariff, taki…
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