Proposal to amend UAE steel scrap indices: pricing notice

Fastmarkets proposes to amend the specifications of its UAE steel scrap price indices to better align with industry trends and capture more precise data.

Under the proposed amendments, the MB-STE-0910 steel scrap sheared HMS 1&2 (80:20 mix), index, domestic, delivered UAE and the MB-STE-0927 Steel scrap, shredded, index, domestic, delivered UAE will allow data pertaining to material delivered to Abu Dhabi with payment terms by bank transfer within three weeks.

Other payment terms, locations and material sizes will be normalized according to market participant data at Fastmarkets’ discretion.

It will also consult on exact sizing of sheared HMS 1&2 and shredded scrap material to provide a precise and accurate quality specification for the UAE market.

The proposed new specifications are as follows, with changes in italics.

MB-STE-0910 Steel scrap sheared HMS 1&2 (80:20 mix), index, domestic, delivered UAE, dirhams per tonne 
Quality: Sheared, obsolete, light scrap comprising material such as deformed bars and wire from demolished buildings. Material is processed and typically cut into 2-3×1 ft lengths
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 three weeks of delivery
Publication: Tuesdays 4-5pm London time
Notes: Other payment terms, locations and material sizes will be normalized

MB-STE-0927 Steel scrap, shredded, index, domestic, delivered UAE, dirhams/tonne
Quality: Shredded scrap, compliant to ISRI specifications 210-212
Quantity: Min 100 tonnes
Location:Delivered consumer Abu Dhabi, United Arab Emirates (UAE)
Timing: Within three weeks
Unit: UAE dirhams per tonne
Payment terms:Bank transfer within three weeks of delivery
Publication: Tuesdays 4-5pm London time
Notes: Other payment terms, locations and material sizes will be normalized

The consultation period for this proposed amendment starts from Tuesday November 25 and will end on December 29. The amendment will then take place, subject to market feedback, on Monday January 5, 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 Lee Allen re: UAE steel scrap.”

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets’ pricing methodology and specification documents, visit the Fastmarkets methodology page: