Copper theft hits new low in January

Copper theft sank to its lowest level since 2009 in January

By - March 4, 2013 Share on LinkedIn
Copper cable

Copper theft sank to its lowest level since 2009 in January, the SA Chamber of Commerce and Industry (Sacci) said on Monday.

Sacci’s Copper Theft Barometer was R11.1 million in January this year compared to R12.4 million in December, Sacci said in a statement.

“This is the lowest level of the barometer since April 2009 and is a strong indication that the downward momentum seen in 2012 should continue into 2013.

“While there is a strong relationship between the incidence level of copper theft and the international copper price, this is a cyclical relationship that can be influenced by structural changes within the domestic environment,” Sacci said.

It said improved policing was one of the structural changes that had the potential to reduce the level of copper theft over time, regardless of the price trend.

Copper cable theft and sabotage - Telkom - Manhole and box

Copper cable theft and sabotage – Telkom – Manhole and box

The copper theft volume indicator recorded 156 metric tons in January from 179 tons in December and 180 tons in November.

“The progress already made against copper theft in 2012 by way of improved police co-operation with social partners, as well as the groundbreaking institutional work done with the Second-hand Goods Act, should spill over into 2013. The outlook is therefore very positive,” said Sacci.

The spot price for copper increased to a monthly average of US8062 per metric ton in February from US8052 in January, and US7427 in December last year.

The average price for 2012 was US7958.

“This implies that the variation from the mean to both directions was slightly more than US500, or six percent of the average,” said Sacci.

“The implication is that the international price of copper has remained fairly stable despite broad macro-economic trends that affected the demand for industrial inputs.”

The possible consolidation of sovereign debt problems in developed economies should place upward pressure on the copper price this year, said Sacci.

More copper theft news

Cable theft costs R5 billion a year

Cable theft: what is being done

Cable theft: where does all our copper go?

Cable theft effect: you’ll be surprised

Share your thoughts

Join the conversation

Connect with Us

androidappletwitterfacebookgoogleplusfeednewsletter

Poll

Do you buy new tech and gadgets as they launch, or wait for price cuts and sales?

View Results

Loading ... Loading ...

More News

How strong South Africa’s army is

SA Army Helicopter

This is how South Africa’s army compares to the superpowers of the world.

Xiaomi Redmi Note 3 and Note 3 Pro coming to South Africa

Redmi Note 3

Mobile in Africa Group has confirmed it will bring the Xiaomi Redmi Note 3 and Note 3 Pro to SA.

Jacob Zuma turning SABC into a state broadcaster

Jacob Zuma in Germany speaking

President Jacob Zuma is using SABC COO Hlaudi Motsoeneng to turn the public broadcaster into a state broadcaster, Democratic Alliance leader Mmusi Maine said on Monday.

How Dell laptop prices are kept low in South Africa

SA rand money

Pinnacle explains what it is doing to limit the impact of the weak rand on the price of Dell laptops in South Africa.

X

Newsletter Subscription


Name
Email *
Enter the following to confirm your subscription *
Captcha image


Free MyBroadband Newsletter
Subscribe
×