This is completely over. These machines are going to turn into scrap iron — Shenzhen, China

“This is completely over. These machines are going to turn into scrap iron.
Look, they’re piled up full everywhere.
Since August, factories in Shenzhen and Dongguan have been closing down one after another.
All this equipment stacked full like this—after just ten days or half a month, there’s not a single person around.
Not even anyone coming to look, let alone buy.
Every single machine is just lying here depreciating.
If this continues, they’re going to become scrap.
Some of these machines aren’t obsolete ones; many are from factories that went bankrupt.
Some have been used for half a year, or even just two or three months this year.
Some have only run for five or eight hours—you can check.
What are we going to do if this keeps up? What about manufacturing?
These brand-new machines have no buyers even as second-hand.
Look at this brand-new turret lathe machine—no one wants it.
A top-brand machining center like this used to cost hundreds of thousands [of yuan].
Now, in this city, eight or nine out of ten are like this.
Look at these rows—they’re even more ridiculous.
At 80-90% off, or 3-4 fold discounts [meaning 30-40% of original price], no one is willing to take them.
Even these precision ones that can’t quite meet your accuracy needs—at 3-4 fold or 2-3 fold discounts, still no takers.
The most outrageous are these top-tier brands—the most heartbreaking is the investment losses.
Some of these turret lathes, brand new, over 60,000 yuan [each], and this is the fate.
Even top-brand processing centers and lathes end up like this.
No one wants them.”

Grok description:

The man speaks with frustration and despair, highlighting the rapid wave of factory bankruptcies in China’s key manufacturing hubs (Dongguan and Shenzhen) and how expensive, high-quality equipment is now unsellable at steep discounts.