Scrap Dealers Threaten Nationwide Supply Halt Over Steel Industry Price Cuts

Scrap metal dealers have threatened to stop supplying scrap and other raw materials to iron and steel companies nationwide from October 1, 2026, over alleged unfair practices in the sector. The dealers said repeated, unannounced cuts in scrap purchase prices leave members who bought and transported materials at higher rates facing losses of between ₦3 million and ₦6 million per truckload. They also complained about deductions described as “extra dust” from transactions. The association called for stronger regulation of scrap trading, including verification of dealers supplying steel companies. It said buying from unregistered agents could encourage the sale of vandalised public and private property. Members were urged to remain peaceful while the dispute is pursued through dialogue.

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