Copper theft hits new low in January

Copper theft sank to its lowest level since 2009 in January

March 4, 2013
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

Tags: Active, copper theft, SACCI

Free Email Newsletter:
Subscribe

Shutterstock is the image partner of MyBroadband – technology images can be found here

Join the conversation

Connect with MyBB

twitterfacebookandroidappleblackberrynewsletterfeed

Poll

What is the average broadband speed which you experience?

View Results

Loading ... Loading ...

More News

Top IT predictions for 2015 and beyond

Crystal ball currency money price business predict future

Gartner has revealed its top predictions for IT organisations and IT users for 2015 and beyond at its annual Gartner Symposium/ITxpo

Online anonymity isn’t easy

Anonymous Always

Online anonymity isn’t as easy as the firms offering privacy apps want you to think

Free on-net calls for all Virgin Mobile subscribers

Virgin Mobile BlackBerry

Virgin Mobile South Africa (VMSA) has launched free on-net calls to all its contract and prepaid customers

Big gadget and tech specials

Sale

South Africans can save lots of money on a wide range of gadgets and tech products this weekend

Free MyBroadband Newsletter:
Subscribe
X
bool(true)