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Metal is an essential material used from day to day both in the
industrial and everyday setting. But what happens when a metal
loses form, becomes old, worn out and supposedly useless?
Recycling is the answer! Recycling and repurposing scrap metal
is a highly lucrative business with great potential for any
business investor at any scale whatsoever in any part of the
world. However, for those who cannot completely delve into the
full scrap metal recycling business, collecting scrap metals is
a viable and profitable option, and the great news is that it
requires less capital than recycling.
As of 2019, the global metal recycling business at large was
worth $52.1 billion, and it has been projected to grow as high
as $76.1 billion at a massive CAGR of 7.8% within the forecast
period of 2020 and 2025. The USA stands tall in the metal
recycling market. The country exported over 17,000 metric tonnes
of scrap metal in 2019. The US is trailed by Japan (7,657 MT),
Canada (4,369 MT), Russia (4,059 MT) and Australia (2,325 MT) in
the same market year. On the flip side, Turkey remains the
biggest importers of scrap metal, with particular attention on
steel metal. The Eurasian country imported a whopping 19 million
MT of scrap steel alone in 2019. This further underlines the
heavy demand for scrap metal all over the world.
Although there is a paucity of data on what precisely the scrap
metal recycling market in Nigeria is worth, there are estimates
that the country churns out about a thousand metric tonnes each
year. For a smart investor, this is a huge business potential
Scraps of all forms and make are scattered in different
locations in Nigeria, particularly on the streets, highways and
water ways, causing unnecessary traffic and obstructing easy
navigation on waterways. One of the most visible groups of
scraps is the metal scraps, which consist of broken down ships,
boats, barges, trailers, etc, and which have not ceased to
constitute a nuisance to society.
There is no doubt as to whether the world will continue to
demand metal. What this means is that, as a metal collector,
there is the possibility of making millions just by collecting
and selling waste metal. At the rate of N800 to N1,000 per Kg, a
collector could make as much as N7 million from a truckload of
aluminium and about N25 million from copper. The interesting
thing about metal collection is that it is an accommodating
enterprise. There are no restrictions on the number of staff,
and there are no qualifications required. Literally any
able-bodied individual who is willing to learn the basics of
scrap metal collection hands-on can earn a living from it. It is
a common business in major cities and towns in Nigeria such as
Onitsha, Port-Harcourt, Lagos, Enugu, etc.
If you can gather metal, copper, or aluminum in good quantity
through any reasonable means, be sure of good money. You
wouldn’t even need to transport is because the companies you
supply will come picking it themselves. Yours is to take your
profit after sales. The metal is measured in weight and each
weight has a given price. Below are the prices:
1 Ton of metal = N35,000 – N40,000
10 Tons or Trailer load of metal = N350,000 – N400,000
1 Ton of Aluminum = N130,000
10 Tons of Aluminum = N1,300,000
These things are picked freely as waste everywhere in Lagos and
other cities. If you set out to gather it yourself, you will
surely gather up to ten tons within a month and sell between
N350,000 to N1.3 million depending on the type of metal you
gathered.
What are the types of metals to supply?
Anything called aluminum and iron metal scraps is a good deal.
Start going around now to look for the following types of waste
metal
How to source for the metals –
You need to get some hands to assist you in this business.
Recruit some young and jobless boys in your community and engage
them in scavenging the material while you pay them some amount
of money. It could be in 30/70% formula – you take 30% while
they take 70%. This way, they’d be in business and you will be
making good money off them.
You will need a Scrapyard. That is a place where the metal and
aluminum are converged for onward supply. A piece of land will
do for this. Once you have your team of boys and a place to
gather your metals together, you are good to go. There is
absolutely no other things required, just as simple as these
By focusing on finding and collecting scrap metal, you can build
a reliable supply chain and establish your business as a trusted
partner in the scrap metal industry. Remember to prioritize
relationships with suppliers, as well as consistently staying
up-to-date with market trends and prices. This will ensure the
long-term success and profitability of your scrap metal
collection business in Nigeria With the completely collapse of iron mining ores in the country. steal manufacturers and rolling companies have no other options than to turn to waste metal and aluminum as great alternatives which is even cheaper. As a result, more ordinary people are making a living supplying these materials to them and keeping the environment clean at the same time.
How to start a lucrative scrap
metal business, our full menthorship
from our resource person will take you by the
hand to make sure you explore the exporting
opportunities in scrap metal exportation in Nigeria
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