Last Updated: 4/12/2024 11:39:00 PM
The UAE decided to extend its export ban on scrap products for another four months until mid-January next year in order to ensure a sufficient supply for the domestic steel manufacturers during the COVID-19 epidemic. However, the decision worried India, a main purchaser of the UAE’s scrap. According to statistics, India imported around 376,000 tons of scrap from the UAE in the first half of this year, dropping by 47% compared to the same period a year earlier. The scrap products involved are under HS codes 720410, 720421, 720429, 720430, 720441, 720449, and 720450.