Copper theft in South Africa fell to its lowest level since April 2009 in January, indicating that the downward momentum seen in 2012 should continue into 2013, the South African Chamber of Commerce and Industry (Sacci) said on Monday.
Sacci CEO Neren Rau said the organisation’s Copper Theft Barometer recorded a decrease in copper theft to R11.1-million during January from the R12.4-million recorded in December.
This followed a decrease to R13.97-million in October, from R14.7-million in September and R17-million in August.
“The progress already made against copper theft in 2012 by way of improved police cooperation with social partners, as well as the groundbreaking institutional work done with the Second-Hand Goods Act should spill over into 2013,” he commented.
The international spot price of copper increased from an estimated average of $7 971/t in December and $8 052/t in January, to $8 062/t during February.
This was higher than the average $7 958/t recorded last year. Copper spot prices reached their highest and lowest monthly averages of $8 465/t and $7 427/t in March and June 2012 respectively.
Meanwhile, copper waste exports decreased to $37.3-million during the last month of 2012, compared with the end-year peak of $43-million in November.