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Domestic prices for hot-rolled coil in Northern Europe dropped further during the week to Friday May 22, due to low trading activity.
Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite there being no upward movement in their steel sales prices, sources in Japan have told Fastmarkets.
Vale Canada has entered into a 60-day exclusivity period with Australian specialist zinc miner New Century Resources to negotiate the sale of a 95% stake in Vale New Caledonia (VNC), Fastmarkets understands.
Three-month base metals prices on the London Metal Exchange were mostly up during morning trading on Tuesday May 26, with copper giving the best performance of the complex in terms of percentage gains.
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