Copper theft may rise soon
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29 September 2011
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The level of copper theft in SA dropped in August, despite the Gautrain being crippled by the crime twice within one week in that month.
The South African Chamber of Commerce and Industry (SACCI) yesterday released the results of its copper theft barometer for August.
The barometer registered a level of 15.84 in July and fell to 14.9 in August. The barometer remained below the average R16 million and R18 million a month, which was the dominant range for 2010.
"The figure of 14.9 for August 2011 suggests a more contained level of theft in accordance with the fall in the copper price from almost $10 000 in July to below $8 000 in August," says SACCI CEO Neren Rau.
However, he adds that recent market reports indicate the copper price is recovering. "The magnitude and pace of recovery will determine the responsiveness of the barometer in reporting higher levels of theft."
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