The copper theft barometer\u201a as measured by the South African Chamber of Commerce and Industry (Sacci)\u201a declined to a level of R17.9 million in June from R23 million in May and R27.5 million in April.<\/p>\n
June\u2019s decline was the third month of substantial declines in the barometer since the peak of R34.7 million in March.<\/p>\n
Sacci\u2019s copper theft volume indicator\u201a which provides an indication of how much copper is stolen as opposed to a rand value of what is stolen\u201a recorded a level of 288 tons in June\u201a down from the 356 tons in May.<\/p>\n
This was a 19% drop on a monthly basis.<\/p>\n
The declines in both the barometer and volume indicator confirmed that copper theft levels had dropped substantially over the course of the second quarter of this year\u201a Sacci noted.<\/p>\n
The latest figures available for copper waste exports relate to May\u201a and recorded an increase of 20.2% on a monthly basis to US$43.5 million from $36.2 million in April and $50.3 million in March.<\/p>\n
Export statistics in general had a high volatility and the levels changed quite rapidly relative to other economic data series.<\/p>\n
Sacci said however that the long-term relationship between the international price of copper and South African copper export volume remained because of the impact that higher prices had on the value of the exported goods.<\/p>\n
In 2011\u201a the average copper price was $8\u201a827 per metric ton and export levels were an average of $49.9 million\u201a whereas the average copper price from January to May this year was $8\u201a229 with exports at a monthly average of $41 million for the same period.<\/p>\n
\u201cIn short\u201a local exporters reduce their export volumes when copper prices fall. This implies that export volumes should be lower in 2012 due to an expected moderation in the international price of copper\u201a\u201d the chamber said.<\/p>\n
The outlook for the fight against copper theft looked positive given the latest data from the barometer and volume indicator\u201a according to Sacci.<\/p>\n
Sacci welcomed the implementation of proper training of police officers in the finer aspects of detecting and policing copper theft in terms of the Second-hand Goods Act.<\/p>\n
On copper prices\u201a the business chamber noted that the international spot price of the metal increased to an average of $7\u201a599 per metric ton in July from the $7\u201a427 average in June.<\/p>\n
\u201cThis is the first increase to the monthly average copper price since March 2012\u201a\u201d it said.<\/p>\n
The increase in July still leaves the price level below the year-to-date average of $8\u201a025 and the $9\u201a643 per metric ton in July 2011 and is not an indication that copper is on an upward price trend.<\/p>\n
Related articles<\/strong><\/p>\n Stolen copper down for May \u2013 Sacci<\/strong><\/a><\/p>\n Cable theft: what is being done<\/strong><\/a><\/p>\n Cable theft effect: you\u2019ll be surprised<\/strong><\/a><\/p>\n Cable theft: where does all our copper go?<\/strong><\/a><\/p>\n