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Copper theft decreased in July – Sacci

28th August 2013

  

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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.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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