stmYou want to start a scrap metal business in Nigeria, we get that. It’s a great venture that has the potential to make you a lot of money. But before you can start selling scrap metal, you need to know the prices per kg.
In this article, we’ll tell you the average price per kg of scrap metal in Nigeria. We’ll also tell you who the main buyers are and where you can find suppliers. Finally, we’ll give you some tips on how to start your own scrap metal business.
Scrap Metal Business in Nigeria
We’ll start by discussing the basics: what scrap metal is, and how it’s priced. Then we’ll provide a list of suppliers and buyers of scrap metal in Nigeria. Finally, we’ll provide some tips on how to start your own scrap metal business.
So, what is scrap metal? Scrap metal is any type of metal that is no longer in use and has been discarded. It can be anything from old appliances and automobiles to cans and wires. The price of scrap metal fluctuates depending on its type and weight.
Types of Scrap Metals Found in Nigeria
There are lots of different types of scrap metal, and each has its own unique value on the market. Here are some of the most common types of scrap metal found in Nigeria:
- Brass: Brass is a type of metal that’s made up of copper and zinc. It has a yellowish-gold color and is often used in manufacturing and construction.
- Copper: Copper is a reddish metal that’s often used in electrical wiring and plumbing. It has a high resistance to corrosion, which makes it a popular choice for these applications.
- Steel: Steel is a type of metal that’s made up of iron and carbon. It’s the most common type of metal in the world, and it comes in a variety of shapes and sizes.
- Aluminum: Aluminum is a lightweight metal that’s popular for use in manufacturing and construction. It has a silver color and a high resistance to corrosion.
Current Prices of Scrap Metals Per Kg in Nigeria
Right now, the prices of scrap metals per kg are as follows:
- Aluminium: N500 – N800/kg
- Copper: N2,000 – N2,500/kg
- Brass: N3,000 – N3,500/kg
- Stainless Steel: N4,000 – N5,000/kg
These are just current prices and they can change at any time. So it’s important to stay updated on the latest rates if you want to get the best deals.
Major Scrap Metal Buyers in Nigeria
The major scrap metal buyers in Nigeria include multinational companies, local firms, and individuals. They are the ones you will be dealing with when it comes to trading in scrap metal.
Some of the biggest names in the industry include Babs & Celia Trading And Contracting International, Maths Metals Recycling Ltd., Calzec Quality Metal Ltd., Colossal Hub., Great Height Metal Works Nigeria Limited and Regent Recycling Nigeria Limited.
These companies have established themselves as some of the most reliable and consistent buyers of scrap metals in Nigeria. They usually have warehouses or yard spaces where they store their scrap metals in large quantities before exporting to other countries.
Additionally, they have a well-efficient system for processing payments to their many suppliers after making purchases. Furthermore, these companies also provide a wide range of services such as demolition works and bulk haulage services.
Major Scrap Metal Suppliers in Nigeria
When it comes to the actual scrap metal business in Nigeria, you need to know where you can get a good supply of scrap metal. That’s why it’s important to have a good idea of the major suppliers in Nigeria.
The two main suppliers of scrap metal in Nigeria are Recyclers Nigeria Ltd and L & S Metal Merchants Ltd.
Recyclers Nigeria Ltd is one of the biggest distributors of ferrous and non-ferrous metals in the country, with its headquarters located in Lagos State. They offer a wide range of services including collection, sorting, packing and delivery of all types of ferrous and non-ferrous metals.
L & S Metal Merchants Ltd is another major supplier of scrap metal, operating out of Ibadan, Oyo State.
They specialize in supplying large quantities for industrial use, as well as for small-scale projects like home renovations. They also offer value added services such as cutting, welding, and machining.
Tips on How to Start a Scrap Metal Business in Nigeria
You’re now ready to start your scrap metal business in Nigeria. Here are some tips to help you get started:
- Research the market before jumping in. Check out the prices of different metals, who are the major buyers and what are their requirements, if there are any metals that are currently in high demand and so forth.
- Buy quality supplies that will yield high returns. Make sure to purchase good-quality metals at a reasonable price as it will help you get higher profits from your scrap.
- Find reliable suppliers. Ensure that you choose reputable suppliers who offer quality materials at competitive prices.
- Register your business with relevant authorities and obtain licenses where necessary for trading and for transporting materials from one place to another.
- Look for ways to store and transport the materials safely to avoid any damage or theft of your supplies during transportation and storage. Invest in containers that can be easily transported and properly stored, such as shipping containers and crates.
Conclusion
Nigeria is one of the most populous countries in Africa with almost 200 million people. It is also one of the poorest with a GDP per capita of just $2,000. The country is rich in natural resources, including oil, gas, and minerals.
Despite the challenges, there are opportunities to make money in Nigeria. One such opportunity is the scrap metal business. Nigeria is a major producer of scrap metal, and there is a huge demand for it both in the country and abroad.
If you are interested in starting a scrap metal business in Nigeria, this article provides you with all the information you need above.
Was this information useful? Read similar posts recommended for you below
stm