MONTHLY: China's ELV recycling rate to continue rising in May

After climbing for two months straight, the volume of ferrous scrap recycled from end-of-life vehicles (ELVs) in China is expected to increase further in May, driven by the likely strengthening of steel scrap prices, Mysteel's latest survey suggests.

In April, a total of 28,100 units of ELVs were scrapped and shredded by the 85 Chinese automotive dismantling companies under Mysteel's tracking, up 1.2% from March, though the volume was 17.3% lower compared with the same month last year. By the end of last month, the total number of