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31 Jan

UAE scrap prices depend on export duty enforcement

The United Arab Emirates scrap market is in disarray, with the largest consumer preparing to cut its purchasing prices in anticipation of the imposition of export duties, which would eventually reduce scrap exports. Since last week, prices have been trending upwards as containerised scrap shipments from Europe to India, Bangladesh and Pakistan were halted due to the well-known risks of transiting the Red Sea. Buyers in Pakistan and Bangladesh have consequently in…
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