The recent drop in oil price have given raise to the dollar and making scrab metals 300 percent raise in price. For example here in Nigeria the price of a 45 amp battery costed about 1200 but the current price is 3500 naira.
New Guy
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The recent drop in oil price have given raise to the dollar and making scrab metals 300 percent raise in price. For example here in Nigeria the price of a 45 amp battery costed about 1200 but the current price is 3500 naira.
Last edited by ayiddalal; 10-24-2016 at 07:13 AM.
Metal Recycling Entrepreneur
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None of us here are interested in investing if you are trying to ask for that.
Scrap prices here have been down for a long time. Also oil is up to just over $50 US that is an increase of about 20% over a couple of months.
Please go to the introduction section and tell us a little about yourself and your scrap experience. 73, Mike
"Profit begins when you buy NOT when you sell." {quote passed down to me from a wise man}
Now go beat the copper out of something, Miked
Metal Recycling Entrepreneur
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I hate to sound negative but the value comparison you used given your economy and Nigeria's reputation for scams would be like saying the peso is worth something when compared to the dollar. Our scrap values are still in the toilet everywhere. If they have gone back up as much as you say the two yards I sell to are unaware of it and they are really fair with me so I know they would pay higher if they could but similar to price fluctuations involving gas at the pump but the opposite. In the case of scrap it takes forever to go back up gas takes forever to go back down. Just for saying. I have a 2016 car worth 40K for sale. (Not really just acting like a Nigerian scam on Craigslist) Price $1200 dollars. Interested?. Send me your personal information and use Western union for all transactions under the name of John Smith.Originally Posted by ayiddalal
New Guy
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u did sound negative. Due to the fall in oil price, unbalance of import to exported goods, among others. the demand for dollar is always on the rise, which generally causes a continued depreciation of the naira.*
currently the exchange rate is 450 naira to a dollar. these caused the price of scrap battery to raise. a kg of a scrap battery was 160naira today it cost 350 naira per kg.
Metal Recycling Entrepreneur
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You have not introduced yourself yet. I am three months new to this site. It is very informative and interesting and easy to use plus I have learned so much about the scrap business I had no clue about before. Even with low returns on my scrapping efforts I am still at it because my overhead is low and because I have not fallen for any Nigerian scams. If you are a legit scrapper from Nigeria and your true intent is to become part of this family of great people each with the same goals. Welcome. If not you will quickly find out how hard working Americans dislike being taken for fools.
Last edited by Repurposer; 10-24-2016 at 11:15 AM.
New Guy
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Repurpose; I understand why u keep mentioning Nigeria and Scam, there are alot of scammers I agree with u but also There are thousands of legit businesses here in Nigeria. I am actually from saudia living in nigeria for a very long time. I have been in scrap business over 6 years now. am here to share my experience and also gain alot of it. Am sure I will gain from you as well.
Last edited by ayiddalal; 10-24-2016 at 03:20 PM.
You will find that our members are very interested in the scrap business in other countries. I highly suggest you take advantage of the old threads. Reading the old treads can really open your eyes to other areas of scraping and with our diverse membership. The time you spend reading the old posts may help you find other areas to profit. 73, Mike
New Guy
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Thank you
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