The liquidation order issued by the government of Zambia, that would allow it to take control of the copper-producing assets held in the African country by global metals producer Vedanta, has sent shockwaves through the global industry.

The United States' removal of Section 232 tariffs on Mexican steel products is likely to underpin a slow recovery in Mexico's ferrous scrap market, market participants said.

The Zambian government has filed an official document to the High Court to liquidate the assets of Konkola Copper Mines (KCM), which is majority-owned by Vedanta Resources.

Physical iron ore markets continued to strengthen on Friday May 17, with the seaborne price breaching $100 per tonne cfr China for the first time in five years amid bullish futures.

The United States' elimination of steel tariffs against Canada might allow Welded Tube of Canada to resume previous production levels at its Lackawanna, New York, mill and pursue an expansion there, the company's top executive said.

Renewed selling interest on Friday May 17 has capped the upside from the slight rebound mid-last week and the metal markets generally look shaky in the early morning of Monday May 20.

Ferrous scrap trader Hoffman Iron & Steel is looking to Southeast Asia as a key area of growth for its business in the coming years, chief executive officer Philip Hoffman said in an interview with Fastmarkets MB.

Massive amounts of scrap metal are being held at Malaysian ports for unprecedented inspections and multiple copper cargoes still at sea are being diverted to other Asian countries at big discounts, sources told Fastmarkets.

Here are five Fastmarkets MB stories you might have missed on Friday May 17 that are worth another look.

The United States has reached an agreement to remove Section 232 tariffs from Canada and Mexico, US President Donald Trump said on Friday May 17.