The Copper Theft Barometer level increased marginally to R13.2 million in October from R13 million in September and R12 million in August 2014. This is the fifth monthly increase in the year and is 43% higher than a year ago. The increase in October is a worrying signal that copper theft may be on the increase over the short to medium term. The Copper Theft Volume Indicator increased to 176 metric tons in October from 173 metric tons in September 2014.

The international average monthly spot price of copper to date decreased slightly to     $6 745 in November from $6 748 in October 2014 and $6 871 in September 2014. The change in the copper price on a monthly basis is the slightest in over a year and suggests that the downward trend experienced over the past year may be decelerating to stabilise at levels just above $6 700. South African exports of waste copper products dropped significantly to $7 million in August from $15.4 million in July and $24.6 million in June 2014.

The recent increases in copper theft suggest an upward trend has taken hold. This is certainly a setback from the good work done in driving down the crime trajectory from 2012 to 2013. In 2014 several high-profile incidences of copper theft have highlighted the impact of copper theft, ranging from frustration over network service interruption to lives lost. The further implication is that municipal finances are placed under severe strain to fight copper theft and replace stolen copper cables, particularly as the broader replacement cost is normally multiples of the value of the actual material that was stolen.

Issued by SACCI