Posted on 06 Oct 2023
United Arab Emirates has extended its ferrous scrap export ban by a further three months to 19 December, Kallanish learns from a Dubai Customs notice.
All HS codes under heading 7204 are affected.
Scrap exports were initially banned in May 2020, with the measure extended consecutively to support raw material supply for local steelmakers. Exports continued regardless of the ban, mainly to India, Pakistan and Bangladesh. Indian Customs have in recent months stopped clearing scrap consignments from UAE, resulting in a 60% on-year drop in scrap imports from that origin to 73,340 tonnes in January-July.
UAE shipments to Pakistan and Bangladesh continue, however.
Delivered scrap prices in UAE remain stable at AED 1,200-1,225/tonne ($332-334) for HMS 1/2 80:20 and AED 1,300-1,325/t for heavy fabrication.
Source:Kallanish
