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Stealing Copper Helps Thieves Outperform Traditional Larceny Market

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COMMODITIES GONE WILD
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"Given all sorts of factors; the downgrading of the US credit rating, the problems in the euro zone, you would have thought copper would be 20 to 30 percent lower. It's been an impressive performance," Credit Agricole analyst Robin Bhar tells Reuters. "Maybe metals are looking beyond the short term where fundamentals are more concrete, maybe looking east, because copper is not beholden to the United States and Europe, it's beholden to the developing world."

Even though copper has lost 10% of its value this year, it's still trading at $399.45. And thieves are apparently aware that Asian demand and a supply squeeze have analysts like Duncan Hobbs, senior commodities and mining analyst at Macquarie Securities Group, predicting "demand growth through the second half of the year... to the upside."

“They are targeting high-value commodities,” Jim Howse, a partner with The Transportation Group, said. “No one is stealing trucks full of Cheerios.”

With prices like that and an indisputably bullish forecast from all angles, it's only natural that we're now seeing this when typing "copper theft" into Google News:

Man Facing 61 Counts Related to Copper Theft

Ga. Co-ops Back Copper Theft Fight

'Daily occurrence' -- Copper thefts threaten public safety

Copper thief may have started fire at old paper mill

Two copper theft suspects busted in Broken Arrow

Axis Security's remotely monitored CCTV systems prevent copper theft

Two arrested for alleged copper theft

Two Baltimore County Employees Charged in Copper Theft Scheme

Copper thieves jeopardizing lives

Metal Thefts on the Rise‎

And that's just the first page. Copper has been tempting thieves who prefer commodities to equities all over the world:

New Zealand:

Police focus on metal theft‎

Train track thieves risk derailments

Former MP's copper art stolen

South Africa:

Make copper theft a serious crime: Minister

Cable theft is 'murder'

Cable theft cripples Gautrain

Canada:

Copper Theft Increases at Ontario Power Stations

Man electrocuted trying to steal copper from power plant

If only the 300-pound propeller that went missing in B.C. could talk

Ireland:

Homes lose phones after thieves rob copper cable

Police operation targets metal thieves in Londonderry

Four charged over copper theft in Armagh

However attractive copper is to a metal thief, anything shiny (or not) seems to be fair game:

California:

Selma city employees busted for stolen manhole covers

At least they're not stealing used cooking oil yet...oh, wait--

Michigan:

Used oil theft at KFC reported
POSITION:  No positions in stocks mentioned.
TAGS:  COPPER, COPPER THEFT, METAL MARKETS    SOURCE:   Reuters

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