Cu theft on rise in São Paulo

The theft of copper and copper products from factories and trucks in São Paulo state soared first quarter 2005 as robbers took notice of the metal's rising price on commodity markets, news agency AE Setorial reported. The amount of copper stolen rose 211% to 180t in the first quarter compared to 4Q04, according to the report. The report cited data from Sindicel, a non-ferrous metals industry trade group in São Paulo state. The value of the stolen copper was estimated at 2.5mn reais (US$1mn). Some 36 robberies were reported in 1Q05 compared to 30 in the whole of 2004. Robberies in 1Q05 represent 62% of the volume and 57% of the value of all of the robberies in 2004, the report said. The commodity's price surge over the past 18 months has made the metal an attractive and lucrative target for thieves. The average price per pound of copper rose 52% in 2004 compared to 2003. Copper closed at US$1.44/lb on the London Metals Exchange on May 16. Copper thieves focus their activities on the telecommunications, energy and communication sectors, according to the report.