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Copper theft falls to lowest level since 2009

15th March 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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Copper theft in South Africa fell to its lowest level in January since April 2009, indicating that the downward momentum seen in 2012 should continue into 2013, the South African Chamber of Commerce and Industry (Sacci) reported earlier this month.

Sacci CEO Neren Rau said the organis-ation’s Copper Theft Barometer recorded a decrease in copper theft to R11.1-million during January from the R12.4-million recorded in December.

This followed a decrease to R13.97-million in October, from R14.7-million in September and R17-million in August.

“The progress already made against copper theft in 2012 by way of improved police cooperation with social partners, as well as the ground-breaking institutional work done [regarding] the Second-Hand Goods Act should spill over into 2013,” he commented.

The international spot price of copper increased from an estimated average of $7 971/t in December and $8 052/t in January to $8 062/t during February.

This was higher than the average $7 958/t recorded last year. Copper spot prices reached their highest and lowest monthly averages of $8 465/t and $7 427/t in March and June 2012 respectively.

Meanwhile, copper waste exports decreased to $37.3-million during the last month of 2012, compared with the end-of-year peak of $43-million in November.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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