{"id":60577,"date":"2026-03-14T10:19:21","date_gmt":"2026-03-14T04:19:21","guid":{"rendered":"https:\/\/biztrend24.com\/?p=60577"},"modified":"2026-03-14T10:19:21","modified_gmt":"2026-03-14T04:19:21","slug":"bigmints-uae-scrap-index-drops-over-20-t-w-o-w-as-strong-buying-momentum-stalls","status":"publish","type":"post","link":"https:\/\/biztrend24.com\/?p=60577&lang=en","title":{"rendered":"BigMint&#8217;s UAE scrap index drops over $20\/t w-o-w as strong buying momentum stalls"},"content":{"rendered":"<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Construction activity stable, material flows unaffected<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li>Recent bulk deals cover mills&#8217; short-term scrap needs<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>BigMint&#8217;s index for the UAE&#8217;s domestic ferrous scrap dropped sharply by AED 82\/t ($22\/t) w-o-w to AED 1,164\/t ($317\/t) on 11 March. Market sources attributed the decline to price correction following heavy scrap purchases by key steelmakers in the previous week.<\/p>\n<p>Market insiders noted local conditions remain stable with no major disruptions reported. Construction activity and material movement continue normally, while major mills are actively securing raw materials for their upcoming production cycles.<\/p>\n<p>Gas-based DRI plants, including those operated by Emirates Steel Arkan, largely rely on domestic pipelined natural gas rather than LNG cargoes, suggesting that current LNG supply disruptions have limited impact on operations.<\/p>\n<p>According to a source at a major trading house, domestic scrap prices softened by around AED 75-100\/t ($20-27\/t) following recent bulk buying, thereby easing pressure in the local market. Currently, processed HMS is heard around AED 1,160-1,180\/t ($313-319\/t) delivered, excluding VAT, while shredded scrap is quoted at an additional AED 60-70\/t, translating to about AED 1,230-1,240\/t ($332-335\/t).<\/p>\n<p>Market participants indicated that tradeable levels may settle around AED 1,145-1,165\/t ($309-315\/t) for HMS, while shredded could move to AED 1,220-1,230\/t ($329-332\/t) as some mills are expected to enter the market to secure raw materials towards the later part of the month.<\/p>\n<p>As per a major trading house, processed HMS was heard at around AED 1,200-1,240\/t ($324-335\/t) DAP Abu Dhabi at the start of the week, with some offers reported at AED 1,250\/t ($338\/t), excluding 5% VAT.<\/p>\n<p>Sources indicated that several orders were placed about three days ago within this range, with decent batch sizes, though exact transaction details could not be disclosed. In terms of buying activity, two major steelmakers in the country were heard to have booked larger volumes, with total purchases estimated at around 14,000-15,000 t, of which a major share was reportedly secured by one mill.<\/p>\n<p>UAE-based Arabian Gulf Steel Industries (AGSI)\u00a0has secured a Sustainable Finance Working Capital Facility from Ajman Bank to support its operations and low-carbon steel strategy. The funding highlights how green financing is increasingly helping steelmakers invest in cleaner and more energy-efficient production.<\/p>\n<p>AGSI operates a scrap-based steelmaking and rolling complex in Abu Dhabi, producing billet, rebar, and sections. The company is also expanding its facilities, with projects underway expected to increase its total rolling capacity to about 1.65-1.7 mnt\/year.<\/p>\n<p>Hormuz tensions lead to rerouting of cargoes:<\/p>\n<p>Rising tensions around the Strait of Hormuz are pushing the UAE to explore alternative logistics routes to maintain trade flows. While Jebel Ali Port remains partly operational, vessel traffic has declined as shipowners avoid the strait amid growing security risks.<\/p>\n<p>To reduce disruptions, UAE authorities have temporarily rerouted cargo through Khorfakkan and Fujairah ports, from where containers are transported by road to Dubai and its free zones. However, this shift is increasing logistical complexity and costs.<\/p>\n<p>Freight rates to the Gulf have surged sharply, with some estimates suggesting transport costs have risen nearly fivefold due to rerouting, higher insurance premiums, and war-risk surcharges. Alternative ports also have limited capacity compared with Jebel Ali or Khalifa Port, raising concerns about handling large volumes.<\/p>\n<p>Despite these challenges, DP World plans around $3 billion in investments for 2026 to strengthen logistics infrastructure and supply chain resilience.<\/p>\n<p>Outlook:\u00a0UAE scrap prices may remain range-bound in the coming days following the recent correction, as mills reassess procurement after last week&#8217;s strong buying activity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction activity stable, material flows unaffected Recent bulk deals cover mills&#8217; short-term scrap needs BigMint&#8217;s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":60578,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[313],"tags":[],"class_list":["post-60577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-iron-steel"],"jetpack_publicize_connections":[],"featured_image_urls":{"full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=1280%2C720&ssl=1?v=1773461953",1280,720,false],"thumbnail":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?resize=150%2C150&ssl=1?v=1773461953",150,150,true],"medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=300%2C169&ssl=1?v=1773461953",300,169,true],"medium_large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=640%2C360&ssl=1?v=1773461953",640,360,true],"large":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=640%2C360&ssl=1?v=1773461953",640,360,true],"1536x1536":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=1280%2C720&ssl=1?v=1773461953",1280,720,true],"2048x2048":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=1280%2C720&ssl=1?v=1773461953",1280,720,true],"covernews-slider-full":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?resize=1115%2C715&ssl=1?v=1773461953",1115,715,true],"covernews-slider-center":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?resize=800%2C500&ssl=1?v=1773461953",800,500,true],"covernews-featured":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=1024%2C576&ssl=1?v=1773461953",1024,576,true],"covernews-medium":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?resize=540%2C340&ssl=1?v=1773461953",540,340,true],"covernews-medium-square":["https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?resize=400%2C250&ssl=1?v=1773461953",400,250,true]},"author_info":{"display_name":"Biz Trend 24","author_link":"https:\/\/biztrend24.com\/author\/online24"},"category_info":"<a href=\"https:\/\/biztrend24.com\/?cat=313&#038;lang=en\" rel=\"category\">Iron &amp; Steel<\/a>","tag_info":"Iron &amp; Steel","comment_count":0,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/biztrend24.com\/wp-content\/uploads\/2026\/03\/Untitled-design-2026-03-14T101900.780.jpg?fit=1280%2C720&ssl=1?v=1773461953","jetpack-related-posts":[{"id":55133,"url":"https:\/\/biztrend24.com\/?p=55133&lang=en","url_meta":{"origin":60577,"position":0},"title":"UAE: BigMint&#8217;s scrap index inches up by $3\/t w-o-w; Emirates Steel rolls over Feb&#8217;26 rebar prices","author":"Biz Trend 24","date":"January 24, 2026","format":false,"excerpt":"RCM-related uncertainty limits near-term spot buying Exports slow amid pending VAT clarity, bid-offer gaps UAE scrap prices increased by AED 12\/t ($3\/t)w-o-w in the week ended 23 January, even as steel mills largely held firm on their buying prices. 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