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Scrap prices in the UAE rise by $17/t w-o-w on firm export demand; upside limited ahead of Ramadan

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Melting Scrap

BigMint Bureau

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13 Feb 2026, 19:09 IST

Scrap prices in the UAE rise by $17/t w-o-w on firm export demand; upside limited ahead of Ramadan

UAE scrap exports firm on Pakistan demand

Domestic trade thin amid higher price levels

Scrap prices in the UAE edged higher, as assessed on 13 February, increasing by approximately AED 63/t ($17/t) w-o-w, supported by firm export demand. Buying interest from Pakistan remained particularly strong, as market participants continued restocking ahead of Ramadan.

The imported scrap segment also stayed buoyant, with HMS 80:20 trading at the upper end of the range, as suppliers prioritised the loading of PNS cargoes destined for Pakistan.

Despite the upward move, spot liquidity remained limited as participants adopted a wait-and-watch approach.

These prices were heard from the market (excluding 5% VAT)

HMS 80:20 (processed): AED 1220-1,230/t ($330-335/t)

Shredded: AED 1,290-1,300/t ($350-355/t)

PNS unprocessed: AED 1,200-1,210/t ($325-330/t)

Fabrication scrap: AED 1,230-1,250/t ($335-341/t)

Export market

UAE-origin shredded scrap was sold at $391/t CFR Qasim for about 1,000 t. Another UAE shredded cargo (KGTL) traded at $395/t CFR for 1,000 t. HMS deals were heard at $365/t for 1,500 t, while Dubai-origin sheared HMS 80:20 was booked at $370/t CFR Qasim for 1,500 t, with an additional 500 t of sheared HMS concluded at similar levels. UK-origin shredded was reported sold at $375/t for 1,500 t.

Fresh UAE offers were heard higher, with shredded indicated at $400/t and above and HMS 80:20 at $375/t and above. However, recent buying diversification by Pakistani mills toward UK and US origins may ease some pricing pressure on UAE suppliers.

Rebar trading activity in Saudi Arabia has improved slightly as buyers replenish inventories ahead of Ramadan, though demand remains broadly stable. First-tier mills are holding offers at SAR 2,200-2,215/t ($ 587-591/t) delivered, while smaller producers have softened workable levels to SAR 2,080-2,100/t ($555-560/t) to secure volumes.

Hadeed's February price of SAR 2,260/t ($603/t), up SAR 70/t ($19/t)m-o-m, set a higher reference point, but market participants expect demand to slow by around 25% once Ramadan begins due to reduced working hours.

Outlook

UAE scrap prices are expected to remain range-bound in the near term. Pakistan has largely restocked ahead of Ramadan and may slow fresh bookings in the coming weeks. Additionally, domestic market activity is likely to ease due to reduced working hours during Ramadan, which could weigh on trading volumes and limit further price upside.