MONTHLY: China's ELV recycling rate seen retreating in October

After rising during the previous two months, the volume of ferrous scrap recycled from end-of-life vehicles (ELVs) in China is expected to shrink marginally this month due to the fall in scrap prices and weakening scrap demand in the country, the findings of Mysteel's recent survey suggest.

In September, a total of 34,500 ELVs were scrapped and shredded by the 85 domestic automotive scrapping and dismantling companies under Mysteel's tracking. The quantity was 2.8% higher from August, though compared with the same month last year it was lower by a significant 16.1%. Prices for recycled ELV steel