20
Mar
13:11
Duty-evading scrap exports tighten UAE local market
Scrap prices in the United Arab Emirates are set to rise due to continued export trade and limited collection during Ramadan.
Despite export duties on ferrous scrap of AED 400/tonne ($109), traders are making false declarations to evade paying the tariff, taking an immense risk considering the hefty fines. The government has recently replaced Dubai Customs’ senior leadership and steel sector participants expect strict monitoring and surveillance of cargoes …
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Anonymous
Very good overview of the weekly steel market.
Anonymous