MONTHLY: China's ELV recycling rate to remain stable in June

After rising for two months straight, the volume of ferrous scrap recycled from end-of-life vehicles (ELVs) stabilized in May, the results of Mysteel's latest survey show. Market watchers suggest the volume will continue to hold steady in June.

By the end of May, the total number of ELVs stored at the yards of these sampled companies had dropped slightly by 0.5% on month to 9,091 units, the survey findings showed. The demand of steelmakers for steel scrap was firm in May as the mills maintained active operations. This