China's steel scrap recycled from vehicles seen rising in August

China's steel scrap supply from the recycling of End-of-Life vehicles (ELVs) is expected to pick up this month as the impact of the extreme weather seen earlier in the month abates, Mysteel's latest survey has found. The enthusiasm for processing ELVs among domestic car scrapping and dismantling enterprises will also strengthen with prices of ferrous and nonferrous scrap stabilizing, the survey showed.

Last month, the volume of scrapped ELVs declined, mainly because July is a traditional slack month for both sales and recycling of automobiles, Mysteel Global learned. During July, retail sales of passenger vehicles nationwide totalled 1.73 million units, lower by 8% on month, according to data released by the China