According to market sources,
scrap prices in the local
UAE market have been at $270-275 ex-yard this week. Although transaction activity is at decent levels in the country's finished steel market, local steel producers prefer to adopt a cautious approach in concluding
scrap deals and are waiting in order to gain a clearer picture of the outlook for the global
scrap market. Meanwhile, ex-
UAE containerized
scrap offers to India, the leading
scrap export market for the
UAE, are currently at $275-285/mt CFR.