With copper prices on a tear year to date, it’s no surprise that copper theft is making an insidious comeback in the U.S..
A power station in Maine was just hit twice in a week.
Bangor Daily News: Bangor Hydro-Electric Co. is making repairs to a substation in its northern service region for the second time in less than a week after thieves made off with copper wire.
Bangor Hydro crews had made repairs Friday night to the substation after the first theft, according to spokeswoman Susan E. Faloon, but when the repair workers returned Monday they discovered thieves had returned to steal the newly installed copper wire.
Metal Miner highlights that in 2008 95.1% of U.S. utility companies experienced copper theft. Copper theft accounted for a shocking 456,210 outages and 35 deaths. The problem is back on the rise, which to us shows just how much the commodity run has entered the public consciousness.
Metal Miner: As copper investors have come back into the market this year, drawn by the rising price from US$1/lb in January to nearly US$3/lb this month so have thieves stealing copper piping, electrical cabling, telecommunications cabling and even whole electrical substations!
Whole districts have been cut off from power, 911 services, tornado warning services, water, even medical facilities as a rash of thefts has sprung up across the country driven by the rising price. The thefts appear committed by organised gangs, as much as opportunistic amateurs, but one growing development is theft to feed drug addiction.
In any case, this must be great news for the security camera companies. Though there has also been new nano-tech copper deployed which can be traced to its source.