Copper theft declines in June
In its first monthly decrease since February, the South African Chamber of Commerce and Industry’s (Sacci’s) Copper Theft Barometer level has contracted to R12.2-million in June from R15.4-million in May, coinciding with a drop in the volumes of copper stolen from 214 t in May to166 t in June.
However, Sacci warned on Wednesday that it was too early to determine whether the decline was a temporary dip in the recent upward trend, or possibly a positive indication of a downward trend reset.
This came as the international average monthly spot price of copper increased to $7 116/t in July from $6 824/t in June 2014 – the first time the monthly average had breached the “psychological” $7 000/t price barrier since February.
Meanwhile, South African exports of waste copper products increased slightly to $25.7-million in May from $24-million in April.
“Copper is widely used as an input in most manufactured goods and construction projects, so the uptick might be indicative of greater optimism regarding stronger global economic growth prospects,” the chamber noted.
Despite the marginal decline in recent copper theft, Sacci said it had emerged through discussions with the Sacci-affiliated business chamber in the Johannesburg township of Alexandra that scrap metal thefts had escalated to such an extent that various fittings to residential and business properties were being stolen.
“One possible explanation of the metal theft crime wave is the proximity of scrap metal dealers to the residential area,” Sacci pointed out.
The chamber added that the outlook for copper theft levels for 2014 remained concerning, despite the decrease in June.
“As noted previously, a dedicated national copper theft police unit can play an important role in prosecuting larger criminal syndicates,” it maintained.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation