Policy stimulus to keep China's ELV scrap supply robust in '25

The volume of ferrous scrap recycled from end-of-life vehicles (ELVs) in China rose again during the last month of 2024 and is expected to hover high throughout this year as well, the results of Mysteel's recent survey suggest. The enhanced automotive trade-in policy introduced by the central government is seen driving the growth in volume, survey respondents said.

During December, a total of 50,800 units of ELVs were scrapped and shredded by the 85 domestic automotive scrapping and dismantling companies under Mysteel's tracking, higher by 2.5% from November. In addition, the ELV inventories they held had jumped 10% on month to reach 14,600 units by the end