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Domestic prices for hot-rolled coil in Northern Europe moved down over the week ended Friday April 24 due to limited demand and the bearish mood among buyers.
More provincial governments in China are offering incentives to companies to purchase base metal products, in a highly unusual move to avoid inventory piling up at a time of demand uncertainty, Fastmarkets understands from official documents and industry sources.
Taiwan was the sole active buyer of ferrous scrap in the week ended Friday April 24 amid limited demand from other key markets.
Metals prices were for the most part stronger this morning, Monday April 27, as were Asian-Pacific equity indices, while gold prices were slightly weaker and US treasury yields were firmer – all suggesting a broad risk-on mood.
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