Surging copper price sparks cable crime in China
Friday, 15 June 2007
BEIJING, June 14 (AFP): Surging global demand for copper has sparked widespread theft of electrical cables in China and disrupted the country's communications network, state media reported today.
"Electricity, telecommunications and broadcasting facilities are vital components of the country's infrastructure and public services," said Liu Jinguo from the public security ministry, according to the China Daily.
"However, they are currently being threatened by people driven by the prospect of high economic returns."
Copper, used mainly in plumbing and electrical cables, hit an all-time record of 8,800 dollars per tonne on the London Metal Exchange in May last year, partly on the back of Chinese imports.
It fell to 7,202 dollars a tonne last Friday, but the figure is still an increase of 67 per cent over the past 18 months, the newspaper reported.
Metal recyclers here have doubled the salvage price recently, matching an increase in the number of thefts, the report added.
"Some thieves think stealing wire is like withdrawing money from a bank," said Yuan Xinfeng, a security director at China Netcom in Henan, which now sees 67 thefts of copper wiring a day, up from 16 in 2005.
"Electricity, telecommunications and broadcasting facilities are vital components of the country's infrastructure and public services," said Liu Jinguo from the public security ministry, according to the China Daily.
"However, they are currently being threatened by people driven by the prospect of high economic returns."
Copper, used mainly in plumbing and electrical cables, hit an all-time record of 8,800 dollars per tonne on the London Metal Exchange in May last year, partly on the back of Chinese imports.
It fell to 7,202 dollars a tonne last Friday, but the figure is still an increase of 67 per cent over the past 18 months, the newspaper reported.
Metal recyclers here have doubled the salvage price recently, matching an increase in the number of thefts, the report added.
"Some thieves think stealing wire is like withdrawing money from a bank," said Yuan Xinfeng, a security director at China Netcom in Henan, which now sees 67 thefts of copper wiring a day, up from 16 in 2005.