To some copper market watchers, prices for the red metal — which have been giving investors vertigo in recent months — could stand to be a little better. But for the folks turning to unsavory methods of making a quick buck, current copper prices seem to be just the ticket.
Articles Tagged "copper theft"
In the last couple of years, the combination of declining ore grades, labor disruptions and delayed or cancelled mine expansions has led to increased copper scrap consumption. Now, amid tightening supply, the price gap between scrap and refined copper is closing.
Despite lower copper prices, the black market trade in stolen copper is thriving, and has led politicians in the US and the UK to crack down on the practice. The scrap copper market is also being supported by legitimate copper recycling.
The surge in copper prices in recent years has led to a wave of metal theft worldwide which show no signs of abating. But while the red metal’s durability makes it a popular material in construction, its sheen also makes it a hit amongst architects and may continue to rise in demand amongst designers.
There has been a recent surge in scrap-metal thieves attempting to cash in on copper's worth. As the recent price weakness may correct and attract more crime, the market is preparing, and lawmakers are cracking down.
The Forest Lawn Cemetery in Cypress experienced a loss of 90 copper headstones and tablets that had been pre-ordered and were stolen from their maintenance yard. The cemetery supervisor learned about the thefts when he was called by Los Angeles County Sheriff’s Department officials about some of the headstones that had been turned in at [...]
Utilities, construction and industrial sites are experiencing a higher number of thefts or attempted thefts of copper due to rising prices. The copper theft is causing problems in Georgia including Georgia Power. In the past two years the average price of a pound of copper has gone up almost 200 percent. But from 2005 to [...]
An Optellios, Inc. FiberPatrol security system thwarted an attempted robbery of copper tubing from an oil refinery in the Los Angeles area. Optellios, Inc. is one of the leading fiberoptic technology companies and is based in the US. Put into operation just over a month earlier, the FiberPatrol security system demonstrated its highly reliable, precision [...]