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BigMint's UAE scrap index inches down by $2/t w-o-w on weak export demand

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Melting Scrap

BigMint Bureau

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26 Sep 2025, 20:51 IST

BigMint's UAE scrap index inches down by $2/t w-o-w on weak export demand

Pakistani buyers expect more activity after slow week

Market eyes Oct'25 scrap purchase prices of major mills

BigMint's UAE domestic processed HMS index slipped AED 7/t ($2/t) w-o-w to AED 1,201/t ($327/t). Domestic scrap prices continue to face pressure amid weak export demand from India and Pakistan. The market is awaiting two major steelmakers' (EMsteel and AGSI) October scrap purchase price announcements, with speculation suggesting a cut of $8-10/t from current levels.

Currently, shredded scrap is trading at AED 1,280-1,290/t ($348-351/t), while processed HMS (sheared) remains mostly stable at AED 1,200-1,210/t ($327-329/t). PNS is quoted at AED 1,230-1,260/t ($335-343/t) with fabrication scrap nearly at the same level. LMS (medium yield, 50:50 mix) is priced at AED 950-1,050/t ($258-286/t), and unprocessed HMS 80:20 is at AED 1,120-1,150/t ($305-313/t).

Prices at the start of the week...

LMS: AED 950-1,050/t ($259-286/t)

HMS 80:20: AED 1,150-1,170/t ($313-318/t)

HMS processed/sheared: AED 1,210-1,220/t ($329-332/t)

PNS: AED 1,240-1,250/t ($338-340/t)

PNS processed: AED 1,250-1,260/t ($340-343/t)

End-cut: AED 1,280-1,300/t ($348-354/t)

...Towards the weekend

LMS: AED 950-1,000/t ($259-272/t)

HMS 80:20: AED 1,130-1,150/t ($308-313/t)

HMS processed/sheared: AED 1,200-1,210/t ($327-329/t)

PNS: AED 1,220-1,230/t ($332-335/t)

PNS processed: AED 1,220-1,230/t ($332-335/t)

End-cut: AED 1,270-1,280/t ($346-348/t)

EU/UK shredded was assessed at $365-368/t CFR Qasim, while UAE HMS traded at $360-365/t. Prices are expected to climb next week, tracking the Turkish market, with UAE-origin material likely moving towards $385-390/t.

The market is expected to improve next week, as South Asian buyers actively seek material for restocking, though India remains selective. In Pakistan, buyers are likely to be more active next week following a slow week. With Turkish rates recently up by $4-5/t, prices in Pakistan are also anticipated to rise.

HMS (80:20) spread

The average spread between HMS 80:20 from Europe (CFR Nhava Sheva) and the UAE's processed HMS 80:20 (DAP Abu Dhabi) increased t0 $4-5/t. Imported HMS 80:20 CFR Nhava Sheva was assessed at $330-332/t, while UAE-processed HMS 80:20 traded at $325-327/t DAP Abu Dhabi.

Outlook

UAE scrap is poised for selective gains next week as South Asian restocking offsets weak exports, while cautious Indian demand may limit a sharp upside. Upcoming purchase price announcements by major mills will further shape domestic price movements.