Emirates Steel to purchase local scrap material for its steel production – The National

Emirates Steel to purchase local scrap material for its steel production – The National

Emirates Steel to purchase local scrap material for its steel production. Emirates Steel is purchasing local scrap material for use as a feedstock in steel production in a move to support UAE traders.. The company, which is a subsidiary of ADQ, is planning to purchase more than 1 million tonnes of scrap material annually at international prices, it said on Tuesday.. Emirates Steel's decision follows a recent announcement by the Ministry of Economy to temporarily ban scrap iron exports from the UAE in order to help local steel producers gain easy access to the raw material for their manufacturing operations.. "The company is committed to supporting the steel industry value chain and will ensure we stand by the Ministry of Economy decision to prevent the export of scrap materials that are considered prime feedstock in manufacturing steel," Saeed Ghumran Al Remeithi, chief executive of Emirates Steel, said.. The local steel industry needs the entire local scrap business to sustain its operations.". Scrap accounts for 30 per_cent of the raw material in the company's Steel Making Plant One (SMP1) and Emirates Steel is aiming to increase the usage of scrap as a feedstock in other steel making plants as well.. In