The ban affects scrap under HS codes 720410, 720421, 720429, 720430, 720441, 720449 and 720450.
The ministry did not give an official reason for implementing the export ban. But market participants in the UAE told Fastmarkets the decision was taken to avoid price hikes in the local market. The main scrap users in the UAE are Emirates Steel, Arabian Gulf Industries, and Shattaf Steel.
The UAE had been under a Covid-19 related lockdown
during April but has recently eased restrictions.
The scrap export ban for UAE material...