Copper theft decreased in July – Sacci
The South African Chamber of Commerce and Industry’s (Sacci’s) Copper Theft Barometer decreased to R10.5-million in July, compared with R11.1-million in June, confirming that the month-on-month increase between May and June was not the start of a new upward trend in copper theft.
The copper theft volume indicator dropped to 153 t in July, compared with 158 t in June.
Sacci noted that the outlook for reduced copper theft levels remained positive over the medium to long term, mainly as a result of the downward trend in the international copper price.
The international spot price for copper averaged $7 189/t in August, a 4.2% increase compared with the average price of $6 901/t in July. However, the copper price was 4.2% lower year-on-year.
The chamber stated that theft levels were not as sensitive to the rand price of copper.
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