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Steel plate prices in the US Gulf have roughly doubled over the past year, from about $0.40/lb to $0.90/lb. Newbuild prices for open jumbo hopper barges have risen from under $500,000 to over $1 million, and scrap values have also climbed.
Higher barge replacement costs make it more expensive to add or repair inland capacity, which can keep barge freight rates elevated for grain and fertilizer movements.
waterwaysjournal.netWaterways JournalNov 26, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
