MYSTEEL: China's ELV recycling may continue falling in near term

The volume of ferrous scrap recycled from end-of-life vehicles (ELVs) in China is likely to continue shrinking for the remainder of November and beyond, as ELV scrap processors reduce their operations amid thinning margins, according to Mysteel's new survey.

In October, a total of 34,023 ELVs were scrapped and shredded by the 85 Chinese automotive dismantling companies, down 1.6% on month and sharply lower by 28.2% compared with the same period last year. By the end of October, the total number of ELVs stored at the yards of these