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Business
SACCI COPPER THEFT BAROMETER DECEMBER 2011
This is the thirteenth monthly issue of the SACCI Non-Ferrous Metals (Copper) Theft Barometer. The Barometer measures and monitors copper cable theft in South Africa on a monthly basis. The Copper Theft Barometer registered a level of R20.9 million in December 2011 from R22.1 million in November, posting a welcome monthly decrease of 5.6%. The December Barometer however increased by 27% on an annual basis. The Barometer total for 2011 decreased by 17.4% to R214 million, from R259 million in 2010.
South African copper exports decreased by 4.8% on an annual basis in November 2011. However the monthly increase of 29% shows that technical base effects are at play due to the 24% average annual growth rate in the second half of 2010. The 5.6% monthly uptick in copper prices for January to an average of $7 990 per ton suggests that the value of South African copper exports could increase if present volumes remain consistent across the new year.
COPPER THEFT BAROMETER
Source: SACCI
Spot copper prices over the second half of 2011 reflected the global uncertainty on financial stability within the EU and the possible real economy fallout to demand for industrial production. The second half of 2011 started with a peak at an average of $9 643 per metric ton followed by a systematic decline to bottom out at an average of $7 380 per ton in October. The resurgence in global economic activity should push the copper price past $8 000 per ton with cost-consequences for the replacement of stolen copper in South Africa and a risk of elevated levels of theft.
SA EXPORTS OF COPPER WASTE & SCRAP (HS CODE 7404)
Source: Trademap
SPOT COPPER PRICES IN USD PER TON
Source: London Metal Exchange (LME)
Source - SACCI
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