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Copper theft on the rise again

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 28 Nov 2014
SACCI is concerned that copper theft may be on the increase over the short- to medium-term.
SACCI is concerned that copper theft may be on the increase over the short- to medium-term.

The South African Chamber of Commerce and Industry (SACCI) is warning that copper theft could be on the up over the short- to medium-term.

This comes as its Copper Theft Barometer increased marginally to a value of R13.2 million in October from R13 million in September and R12 million in August.

"This is the fifth monthly increase in the year and is 43% higher than a year ago. The increase in October is a worrying signal that copper theft may be on the increase over the short- to medium-term."

SACCI's barometer shows the amount of stolen copper grew to 176 tons last month, from 173 tons in September.

"The recent increases in copper theft suggest an upward trend has taken hold. This is certainly a setback from the good work done in driving down the crime trajectory from 2012 to 2013," says SACCI.

Worrying consequences

The chamber notes there were several high-profile incidences of copper theft this year that highlighted its impact. Effects ranged from frustration over network service interruption to lost lives, it says.

SACCI also says "municipal finances are placed under severe strain to fight copper theft and replace stolen copper cables, particularly as the broader replacement cost is normally multiples of the value of the actual material that was stolen".

The chamber notes, however, the international average monthly spot price of copper decreased slightly to $6 745 in November, from $6 748 in October 2014, and $6 871 in September 2014.

"The change in the copper price on a monthly basis is the slightest in over a year and suggests that the downward trend experienced over the past year may be decelerating to stabilise at levels just above $6 700."

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