As a year of economic turmoil winds down on a quiet note, the world anticipates a 2025 that is bearing all the signs of a comparatively busier period across all sectors, says
As a year of economic turmoil winds down on a quiet note, the world anticipates a 2025 that is bearing all the signs of a comparatively busier period across all sectors, says cash buyer GMS.
The supply of tonnage has seen a year of record low recycling volumes, and yards are certainly yearning for busier days ahead, as freight markets increasingly start to divert more candidates for recycling, after a year of glorious charter rates across all sectors.
Recycling prices have declined over the course of the year, from a high of USD 600/LDT during Q1, down to USD 450s/LDT come Q4 2025. This has kept most recycling yards suspended in a state of limbo as a permanent shut down would be far more expensive than a temporary operational closure.
“For week 52 however, it was a different story as not only did global trade ease this week, but economies also took a breather against the raging US dollar as well, as most ship recycling nation currencies seemed to irrationally display the same amount of instability this week, resulting in a quieter port position in both India and Bangladesh.”
Local steel plate prices have been through the worst of times
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