Copper theft down 41%: Sacci

Although copper theft increased in December, the copper theft barometer level for last year was 41% lower than in 2012, Sacci said on Monday.

January 27, 2014
Copper cable

Copper theft increased to a level of R10.5 million in December, the SA Chamber of Commerce and Industry (Sacci) said on Monday.

According to Sacci, copper theft stood at R9.5m in November 2013.

Sacci said the copper theft barometer level for last year was 41 percent lower than in 2012.

The international spot price of copper increased to a monthly average, to date, of US7343 (about R82,388) per metric ton in January 2014, from US7216 (about R80,963) in December.

“The increase in the copper price in January has been much stronger than expected and could signal a confidence in industrial economies for strong growth,” Sacci predicted.

Copper waste exports fell to US14.3m (about R160.4m) in November 2013 from US62.9 (about R705m) in October.

The sudden fall suggested that the export restriction on scrap metal that came into effect at the end of last year was now making an impact.

Sacci CEO Neren Rau said the outlook on copper theft looked “relatively optimistic”.

However, a sudden increase in price coupled with a weaker rand exchange rate could create a greater incentive for organised crime.

“This is where the gains from improved policing as well as the export restrictions should start to play a role,” he said.

More copper theft news

Four arrested for copper theft

Cable theft costs R5 billion a year

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 type of broadband connection do you have at the office?

View Results

Loading ... Loading ...

More News

SA on power alert: Eskom

Eskom broken

South Africa is on power alert, Eskom said on Wednesday morning

I survived #facebookdown

Mark Zuckerberg, Facebook's co-founder and chief executive introduces 'Home' a Facebook app suite that integrates with Android, during a news conference in Menlo Park, California in this file photo taken April 4, 2013. Facebook Inc introduced video for its popular photo sharing application Instagram in an attempt to go to head-to-head with rival Twitter.  REUTERS/Robert Galbraith/Files  (UNITED STATES - Tags: BUSINESS SCIENCE TECHNOLOGY TELECOMS)

No storm selfies, hookups, or status updates

We need more drone laws: Obama

Wrist Drone

The United States has fallen behind technological advancements that have made small drones readily available and must update its laws to ensure safety

Sony to fire 1,000 smartphone workers

Sony Xperia Z1 under water press shot

Sony Corp plans to eliminate another 1,000 workers in its smartphone business, mainly in Europe and China, a report said Wednesday

Free MyBroadband Newsletter:
Subscribe
X
bool(true)