Physical demand for the yellow metal adds another bullish force to the equation.

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The slurry gushed with such force it buckled a quarter-inch thick metal plate and would have trapped Mr Whipps, the inquest was told.

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Expensive maintenance may force the owners to sell the historic ship for scrap metal, unless a solution can be found.

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The Air Force has tossed him another million to develop coatings that will keep metal from corroding.

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The Scrap Metal Dealers Act 2013, passed by Parliament earlier this year and due to come into force in the autumn, would provide a further boost, he added.

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