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Cape Town - Copper theft increased to a level of R9.5m in November, the SA Chamber of Commerce and Industry (Sacci) said on Friday.
Copper theft stood at R9.2m in October 2013, said Sacci, the copper theft barometer.
Sacci said the November increase was the first since August this year and more likely to reflect an accounting lag than an actual increase.
The Copper Theft Volume Indicator increased to a level of 131 metric tons in November from 128 metric tons in October.
The international spot price of copper increased to a monthly average to date of about R73,791) per metric ton in December 2013, from about R73,365 in November.
Sacci said: "Over the past three years the January figure for copper prices showed a monthly increase, so it’s very likely that the figure might increase quite a bit in the beginning of 2014."
Sacci CEO Neren Rau said it looked as if copper theft was being curbed over the short to medium-term.
"Improved policing and moderate copper price movements should strengthen the downward trend in copper theft over the short term."
Copper theft stood at R9.2m in October 2013, said Sacci, the copper theft barometer.
Sacci said the November increase was the first since August this year and more likely to reflect an accounting lag than an actual increase.
The Copper Theft Volume Indicator increased to a level of 131 metric tons in November from 128 metric tons in October.
The international spot price of copper increased to a monthly average to date of about R73,791) per metric ton in December 2013, from about R73,365 in November.
Sacci said: "Over the past three years the January figure for copper prices showed a monthly increase, so it’s very likely that the figure might increase quite a bit in the beginning of 2014."
Sacci CEO Neren Rau said it looked as if copper theft was being curbed over the short to medium-term.
"Improved policing and moderate copper price movements should strengthen the downward trend in copper theft over the short term."
