Subscribe

Copper theft figures decline

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 28 Aug 2014
Sacci has praised municipalities that set up specialist units to combat theft.
Sacci has praised municipalities that set up specialist units to combat theft.

The SA Chamber of Commerce and Industry (Sacci) today released its latest Copper Theft Barometer, indicating a decline to stand at R12 million in August, compared to R12.2 million in June and R15.4 million in May.

Sacci says the Copper Theft Volume Indicator dropped to 158 metric tons in July from 166 tons in June and 214 tons in May.

"The international average monthly spot price of copper to date slipped to $7 008 (R74 655) in August from $7 117 (R75 816) in July," said Sacci in a statement.

"South African exports of waste copper products dropped to $24.6 million (R246 million) in June from $25.7 million (R273 million) in May," the body said.

"A recent policy suggestion in the ongoing public debate on cable theft was to ban copper waste exports in order to fight copper theft.

"Sacci9 believes this policy innovation is likely to be counter-productive as it could create a perverse incentive mislabel exports. It is also important to note that SA already has a system of export restrictions on waste metal in place.

"The outlook for reductions in copper theft levels for 2014 is now more positive than before, but remains a concern. Sacci is heartened to see more municipalities proactively setting up specialist units to combat copper theft and making use of various communication channels like social media to enlist the help of communities in this important endeavor".

Share