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Copper theft barometer resumes downward trend

24th October 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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The South African Chamber of Commerce and Industry’s (Sacci’s) Copper Theft Barometer returned to a general downward trend, decreasing to R10.8-million in September after spiking to R13.6-million in August.

Copper theft volumes decreased from 187 t in August, to 150 t in September.

The decline was expected to continue – without upward spikes – for the short- to medium term, Sacci said in a statement on Thursday.

“The outlook remains positive despite the blip in August,” Sacci noted.

In August, the barometer breached the R11-million mark for the first time in 2013.

Sacci reported that the international spot price of copper increased slightly from $7 162 in September, to $7 200 in October, which represented a year-on-year decline of 10.7% on the monthly figure recorded in October 2012.

“The international price of copper remains a strong incentive for copper theft as a cyclical determinant. A possible weakness in the short- to medium term copper price should dampen theft levels,” the organisation said, pointing to “signals” in the market that a softer economic landing in China might put downward pressure on the industrial metal.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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