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Copper cable theft down in 2011
Copper theft over the past year was 17.4% less that the previous year, the South African Chamber of Commerce and Industry (Sacci) said on Monday.
The total value of copper stolen in 2011 was R214-million, compared to R259-million in 2010, according to the Sacci Non-Ferrous Metals (Copper) Theft Barometer.
The barometer -- started in December 2010 -- is an indicator of the estimated cost of replacing copper cable stolen from major users Transnet, Telkom, and Eskom.
In December last year, R20.9-million was recorded stolen, down from R22.1-million in November, a 5.6% decrease in theft.
December's figure was, however, 27% more than December 2010.
The value of South African copper could increase, judging by a January rise of 5.6 percent in monthly prices to $7 990/t ton, Sacci said.
Spot copper prices in the second half of 2011 reflected global concerns about the European Union's financial stability.
"The second half of 2011 started with a peak at an average of $9 643/t, followed by a systematic decline to bottom out at an average of $7 380/t in October."
Renewed global economic activity was expected to increase the copper price beyond $8 000/t. This meant it would be more expensive to replace stolen copper, and the possibility that theft of the non-ferrous metal could increase.
Source - EngineeringNews
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