According to market sources, domestic HMS I scrap quotations in the United Arab Emirates (UAE) have increased by AED 80/mt compared to price levels recorded on October 20 to AED 930/mt ($253/mt) ex-yard due to the ongoing upward trend of global scrap prices. Meanwhile, demand in the local UAE market has improved with the acceleration of scrap purchases and is now at good levels.
$1 = AED 3.67