The declining price of steel prices are a barometer for the rise in demolitions in the container shipping sector according to Braemar, the London-based shipbroker.
Given that scrapping prices were at a high in March 2022, at US$685ldt, as vessels delivered for demolition fell to a measly four ships in the year, prices have taken a plunge as the scrappage rate has accelerated in 2023 with demolitions expected to continue to increase into 2024 and 2025.
Current prices paid by scrapyards are...
https://container-news.com/falling-steel-prices-reveal-glut-of-demolitions-to-come/