29
May
15:27
UAE scrap prices see sudden slight decline
Domestic scrap prices fell slightly in the United Arab Emirates following a rumour that a customs raid on Monday night had uncovered misclassified ferrous scrap, for which the declarant was heavily fined, Kallanish notes.
For some time, customs have planned a crackdown to reduce the smuggling of ferrous scrap which saw HS codes wrongly declared to evade high export duties.
From Wednesday morning, scrap buyers started receiving unsolicited offers from scrap dealer…
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Anonymous
Very good overview of the weekly steel market.
Anonymous