Amendment of specifications for UAE steel scrap indices

The consultation began on November 25, 2025, was extended on January 6 this year and ended on February 6. It sought feedback from a range of market participants on the location of delivery, material density and payment terms.

Based on market feedback received during the consultation, Fastmarkets has decided to amend the delivery location to delivered consumer Abu Dhabi, UAE, for both MB-STE-0910 steel scrap, sheared, HMS 1&2 (80:20 mix), index, domestic, delivered UAE, and MB-STE-0927 steel scrap, shredded, index, domestic, delivered UAE.

This change was made because the great majority of domestically consumed tonnage was used by Abu Dhabi-based steelmakers, while a much smaller volume was consumed in Sharjah.

At the same time, transport costs between Sharjah and Abu Dhabi have been inflated in the year to date due to major road closures, pushing up logistics costs between the two areas and making specification of the location of delivery more significant.

Fastmarkets has also added weight and density-based specifications to its methodology to define minimum net weights per load, ensuring that the indices reflect higher-quality, denser materials which are consumed domestically but also suitable for export.

Furthermore, following the introduction in the UAE of the Reverse Charge Mechanism (RCM) on value-added tax (VAT) on January 14, 2026, Fastmarkets confirms that its indices will continue to reflect the net price of the material, excluding VAT, because the responsibility for tax accounting has shifted to the buyer.

The amended specifications are as follows:

MB-STE-0910 steel scrap, sheared, HMS 1&2 (80:20 mix), index, domestic, delivered UAE, dirhams per tonne
Quality: Sheared, obsolete, HMS 1&2 scrap comprising material such as deformed bars and wire from demolished buildings. Material is processed and typically cut into 2-3×1 ft lengths. Maximum 1.5% impurity. Higher-density material with minimum net weight per load of 30 tonnes in a 40ft extended trailer. Material density expected to be 0.7 tonnes per cubic meter and above.
Quantity: Min 100 tonnes
Location: Delivered consumer Abu Dhabi, United Arab Emirates (UAE)
Timing: Within four weeks
Unit: UAE dirhams per tonne
Payment terms: Bank transfer within 30 days of delivery
Publication: Tuesdays, 4-5pm London time
Notes: Excludes VAT. Other payment terms, locations and material sizes may be normalized based on market participant information.

MB-STE-0927 steel scrap, shredded, index, domestic, delivered UAE, dirhams per tonne
Quality: Shredded scrap, compliant to ISRI specifications 210-212. Maximum 1.5% impurity. Higher-density material with minimum net weight per load of 40 tonnes in a 40ft extended trailer. Material density expected to be 0.8 tonnes per cubic meter and above.
Quantity: Min 100 tonnes
Location: Delivered consumer Abu Dhabi, United Arab Emirates (UAE)
Timing: Within four weeks
Unit: UAE dirhams per tonne
Payment terms: Bank transfer within 30 days of delivery
Publication: Tuesdays, 4-5pm London time
Notes: Excludes VAT. Other payment terms, locations and material sizes may be normalized based on market participant information.

These prices are part of the Fastmarkets scrap package.

The amendments take effect from Tuesday February 10, 2026.

To provide feedback on these indices, or if you would like to provide price information by becoming a data submitter to these indices, please contact pricing@fastmarkets.com and metalsrecycling@fastmarkets.com. Please add the subject heading “FAO Cem Turken re: UAE steel scrap.”

To see all Fastmarkets’ pricing methodology and specification documents, go to the Fastmarkets methodology page.