Copper theft drops to R12.1m in October
The value of copper stolen decreased 6.9% month-on-month in October, but was 43.5% higher than in October 2014, the South African Chamber of Commerce and Industry’s (Sacci’s) latest statistics shows.
The Copper Theft Barometer decreased to R12.1-million in October from R12.6-million in September 2015, with the Copper Theft Volume Indicator showing a decrease from 194.54 t to 182.95 t.
“While the lower level is a welcome trend in the level of theft, it is possible that it is a result of lower demand in countries such as China where economic growth is slowing and there is a shift from infrastructure development to a consumer and export driven economy,” Sacci said in a statement on Friday.
The international monthly spot price of copper had also fallen from $4 929/t to $4 598/t over the past few months and from around $6 400/t in December 2014.
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