MONTHLY: Further fall tipped for China's ELV recycling rate in February

The volume of ferrous scrap recycled from end-of-life vehicles (ELVs) in China is expected to keep drawing lower this month as the domestic scrap market quietens around the Chinese New Year (CNY) holiday in mid-February, Mysteel's latest survey suggests.

In January, a total of 30,886 ELVs were scrapped and shredded by the 85 Chinese automotive dismantling companies under Mysteel's tracking, lower by 2.9% from last December and down by a significant 9.5% from the same month last year. By the end of January, the total number of ELVs stored