Results 1 to 9 of 9

raise in prices

| Scrap Metal Prices
  1. #1
    ayiddalal started this thread.
    ayiddalal's Avatar
    SMF Badges of Honor

    Member since
    Oct 2016
    Location
    Nigeria
    Posts
    5
    Thanks
    0
    Thanked 2 Times in 1 Post

    raise in prices

    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 06:13 AM.


  2. #2
    APA's Avatar
    SMF Badges of Honor


    Member since
    Mar 2016
    Location
    Western Pennsylvania
    Posts
    233
    Thanks
    245
    Thanked 161 Times in 87 Posts
    None of us here are interested in investing if you are trying to ask for that.

  3. #3
    SMF Badges of Honor



    Member since
    Jul 2011
    Location
    Jacksonville, NC
    Posts
    4,349
    Thanks
    13,148
    Thanked 4,955 Times in 2,303 Posts
    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

  4. The Following User Says Thank You to miked for This Post:


  5. #4
    Repurposer's Avatar
    SMF Badges of Honor

    Member since
    Sep 2016
    Location
    Mesa, Arizona
    Posts
    162
    Thanks
    56
    Thanked 99 Times in 62 Posts
    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.
    Quote Originally Posted by ayiddalal View Post
    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.

  6. #5
    ayiddalal started this thread.
    ayiddalal's Avatar
    SMF Badges of Honor

    Member since
    Oct 2016
    Location
    Nigeria
    Posts
    5
    Thanks
    0
    Thanked 2 Times in 1 Post

    raise in prices

    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.

  7. #6
    Repurposer's Avatar
    SMF Badges of Honor

    Member since
    Sep 2016
    Location
    Mesa, Arizona
    Posts
    162
    Thanks
    56
    Thanked 99 Times in 62 Posts
    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.
    Quote Originally Posted by ayiddalal View Post
    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.
    Last edited by Repurposer; 10-24-2016 at 10:15 AM.

  8. #7
    ayiddalal started this thread.
    ayiddalal's Avatar
    SMF Badges of Honor

    Member since
    Oct 2016
    Location
    Nigeria
    Posts
    5
    Thanks
    0
    Thanked 2 Times in 1 Post
    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 02:20 PM.

  9. #8
    SMF Badges of Honor



    Member since
    Jul 2011
    Location
    Jacksonville, NC
    Posts
    4,349
    Thanks
    13,148
    Thanked 4,955 Times in 2,303 Posts
    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

  10. #9
    ayiddalal started this thread.
    ayiddalal's Avatar
    SMF Badges of Honor

    Member since
    Oct 2016
    Location
    Nigeria
    Posts
    5
    Thanks
    0
    Thanked 2 Times in 1 Post
    Thank you


  11. Similar threads on the Scrap Metal Forum

    1. Tin prices
      By philshark2 in forum Scrap Metal Tips and Advice
      Replies: 9
      Last Post: 05-22-2015, 10:12 AM
    2. Replies: 5
      Last Post: 03-20-2012, 11:39 AM
    3. We have prices again!
      By easyrecycle in forum General Electronics Recycling
      Replies: 7
      Last Post: 10-17-2011, 08:32 PM
    4. best prices?
      By matt018 in forum Ferrous Metals
      Replies: 14
      Last Post: 02-26-2011, 12:40 PM

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

 
Browse the Most Recent Threads
On SMF In THIS CATEGORY.





OR

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

The Scrap Metal Forum

    The Scrap Metal Forum is the #1 scrap metal recycling community in the world. Here we talk about the scrap metal business, making money, where we connect with other scrappers, scrap yards and more.

SMF on Facebook and Twitter

Twitter Facebook