China's steel scrap from ELV recycling to decline in Oct

China's steel scrap supply from the recycling of End-of-Life Vehicles (ELVs) is expected to shrink in October after last month's rise, as domestic car scrapping and dismantling companies are less enthusiastic about their processing due to the lack of confidence in scrap consumption among steelmakers this month, Mysteel's survey found.

In September, Chinese steel market participants generally became more vigorous in their production with the hope that domestic steel demand would rebound robustly in the country's traditional autumn peak of industrial activities, Mysteel Global noted. Steel scrap processors were no exception. During last month, a total of 38,075 ELVs were