Sunday, December 03, 2006

Copper Prices Up, So is Copper Theft

The graph above show copper prices on the London Metal Exchange, in USD per ton. Copper prices have just about tripled over the last few years, due to a worldwide surge in demand for copper, largely from construction booms in China and India.

From
the NY Times, a recent article With the Price of Copper Up, the Plumbing Can Go Missing:

"Though the news media has reported thefts of copper wire from streetlights, electrical substations and cellphone towers across the country, most of it is taken from abandoned homes or homes under construction, usually by drug addicts looking for quick cash. The theft from Mr. Roscoe’s houses was among eight similar thefts in Pittsburgh over a few days this month. About 250 such thefts have been reported in the last year, compared with perhaps a dozen last year, the police said."

Also, the
Detroit Free Press ran an article about how the theft of copper plumbing in September led to the closing of Detroit's world-famous boxing gym Kronk Gym. Sylvester "Rocky" Stallone attended a charity screening of his new movie Rocky 25, I mean Rocky 6, in Southfield Michigan, and benefits go to Kronk Gym.

2 Comments:

At 12/03/2006 2:25 PM, Anonymous Walt G. said...

I guess that's a "free" market economy at work.

 
At 12/04/2006 12:23 AM, Anonymous fryboy said...

Next time you are in MPLS we need to check out the scrapyard. I'll wait to cash in on my plumbing scraps until your next visit.

 

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