Demolition prices could pass $500 per ldt on a regular basis as steel shortages spur recycling interest.

Bangladeshi breakers are particularly hungry for tonnage, market sources told TradeWinds.

"The market has seen a very firm upward movement, driven on by the shortage of steel products on a worldwide basis," said demolition broker Ed McIlvaney.

This has resulted in a "strong upward spiral" in the four major recycling centres, he added.