Inspite of the nation’s attempt developing her steel industry, Nigeria steel industry has not fully taken advantage of the over 3 billion tonnes of iron ore found in Kogi, Enugu, Niger, Zamfara and Kaduna States.
Most of the nations annual steel demand which is estimated at over 2,000,000 MT is being meet from the recycling of metals scraps because of the dependence of past administration on crude oil as the main source of revenue.
Because of the relationship between the steel consumption and the economic development of a nation, massive investment is required in order to increase the annual per capita consumption of Steel in Nigeria which currently stands at 10kg to the world’s average of 130kg.
Metal scrap recycling as made it possible to recover the iron content from metal scrap instead of using iron ore as the feed stock thereby helping to conserve the world natural resources and creating a market for the trading of metal scraps.
Metal scrap can be basically classified into two categories namely HMS {Heavy Metal Scrap} and Used Rails. HMS can be further divided into two groups namely HMS 1 and HMS 1 & 2 depending on the composition of the heaviness of the scraps.
A number of metal scrap plants currently operates in the country especially in the southern part of the country and in order to encourage the growth of the industry and to meet up with the steel demand of the country, the government placed a ban on the export of metal scraps in Nigeria.
In Nigeria, metal scraps could be sourced from;
- All automobile mechanic workshops
- Junk yards, other workshops and Garages
- Scraps and spare parts dealer shops
- Police stations and motor parks etc.
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1. METAL SCRAP TRADING IN NIGERIA; THE FEASIBILITY REPORT.
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