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

Do you use the Post Office to send letters or packages to people?

View Results

Loading ... Loading ...

More News

Suburbs with the highest broadband speeds in South Africa

broadband speed

There are many South African suburbs with an average broadband speed higher than 10Mbps, with the top suburb enjoying speeds of well over 20Mbps

EU plays cyber war games

Credit card hacker

A European Union cyber-security agency was in Athens to conduct the largest exercise ever held on the continent to prevent attacks on Europe’s public utilities and communications networks

Samsung Galaxy Note 4 accidental damage warranty explained

Samsung Galaxy Note 4

Samsung explains why it decided not to offer all of ADH Premium’s benefits with the Note 4

Apple CEO thankful for being gay

Apple Inc CEO Tim Cook speaks on stage during an Apple event in San Francisco, California October 22, 2013.

Apple Inc Chief Executive Tim Cook publicly came out as gay in an article he wrote in Bloomberg Businessweek

Free MyBroadband Newsletter:
Subscribe
X
bool(true)