Copper theft on the rise

COPPER theft increased to a level of R9.5 million last month, the SA Chamber of Commerce and Industry (Sacci) said.

According to the Sacci Copper Theft Barometer, copper theft stood at R9.2m in October.

Sacci said the November increase was the first since August this year, and more likely to reflect an accounting lag.

The Copper Theft Volume Indicator increased to a level of 131 metric tons last month, up from 128 metric tons in October.

The international spot price of copper increased to a monthly average, to date, of $7 109 (about R73 791) per metric ton this month, from about R73 365 in November.

Copper waste exports increased to $62.9m last month, from $ 58.2m previously. – Sapa