COPPER theft seems to be "contained" in SA, as suggested by the SA Chamber of Commerce and Industry's copper theft barometer.
The barometer, released yesterday, registered a level of 15,84 in July, up from 14,37 in June.
The barometer measures and monitors copper cable theft on a monthly basis.
The figure of 15,84 in July suggested a more contained level of theft with the fall in copper price from almost $10000 per ton in July to below $9000 in August, Sacci noted.
Sacci said that from December last year to April this year, the international price of copper hovered in the range of $9500 to $10000 per ton.
The downgrading of the US's credit and concerns about Italian and French debt, it added, had left sentiment shaken and had impacted upon the current and future price of copper.
"The oversupply of copper and poor demand from the world economy is likely to further reduce the profitability of engaging in the illegal copper trade," Sacci warned.
The business organisation said that based on predictions of a slower demand for copper and a falling price, the figures for June and July were likely to level out.
Theft of copper dips in SA
COPPER theft seems to be "contained" in SA, as suggested by the SA Chamber of Commerce and Industry's copper theft barometer.
The barometer, released yesterday, registered a level of 15,84 in July, up from 14,37 in June.
The barometer measures and monitors copper cable theft on a monthly basis.
The figure of 15,84 in July suggested a more contained level of theft with the fall in copper price from almost $10000 per ton in July to below $9000 in August, Sacci noted.
Sacci said that from December last year to April this year, the international price of copper hovered in the range of $9500 to $10000 per ton.
The downgrading of the US's credit and concerns about Italian and French debt, it added, had left sentiment shaken and had impacted upon the current and future price of copper.
"The oversupply of copper and poor demand from the world economy is likely to further reduce the profitability of engaging in the illegal copper trade," Sacci warned.
The business organisation said that based on predictions of a slower demand for copper and a falling price, the figures for June and July were likely to level out.
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