Saudi lifts scrap metal ban
Saudi Arabia: Sunday, August 20 - 2006 at 14:21
Saudi Arabia has lifted a 16 year ban on the export of scrap metal to fall in line with World Trade Organisation regulations, reported Reuters. The scrap metal is likely to be sold to markets in India, China and Germany; previously, some was recycled to produce steel. Consequently, steel imports will rise and this could have an impact on costs for the real estate industry, the main consumer.
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Jonathan Sheikh-Miller, Deputy EditorSunday, August 20 - 2006 at 14:21 UAE local time (GMT+4)
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