The Ministry of Economy of the United Arab Emirates has decided to keep the country’s export restriction on scrap steel in place for an additional three months. In order to support domestic steelmakers, the country on May 15 this year had banned the export of steel scrap for a period of four months. The prohibition on export of scrap has now been extended to the end of December.
According to the announcement, exports of products under HS codes 720410, 720429, 720430, 720441, 720449, 720450 for ferrous scrap and 720421 for stainless scrap will remain prohibited. The country has also prohibited waste paper exports under HS code 470710.