Copper Theft Surge Sparks Police Warnings as Global Prices Soar

Recent spikes in global copper prices have led to a surge in thefts, prompting police to issue urgent warnings to scrap metal dealers across the country.

Police have expressed concern over the increasing number of copper thefts, which not only impact infrastructure but also pose significant risks to public safety. Copper, a crucial industrial metal, has become a prime target for thieves due to its high value and the rising demand in international markets.

Over the past month, several incidents have been reported, including the theft of over 750 meters of copper cable from a railway bridge in Hawke’s Bay. Additionally, four level-crossing bells were stolen in the same region, causing disruptions and raising alarms among local authorities.

Senior Constable Pehi Potaka highlighted the dangers associated with such thefts. “The theft of copper and other metals can create a significant risk to infrastructure and public safety, and to the thieves themselves,” she said. “We urge scrap metal dealers to be vigilant and report any suspicious activity.”

In Horowhenua, a thief allegedly targeted an old hospital complex, causing $20,000 in damage. Police reported that over several months, the old Horowhenua Hospital has been repeatedly targeted by burglars who removed copper pipes from within the buildings and under the floors.

The situation is further complicated by the recent confirmation of 50% tariffs on US copper imports, which are set to take effect next month. ASB economists noted that these tariffs could lead to a short-term increase in US copper prices, impacting industrial cost structures.

Despite recent fluctuations, global demand for copper is expected to rise significantly in the coming years. While US copper futures have dipped slightly from their record high, they remain up by about 39% this year, trading around $5.60 per pound as of Thursday.

Scrap copper prices in New Zealand are also on the rise, with the London Metals Exchange reporting a price of $9,634 per ton, up from $8,976 three months ago. This trend has made copper an even more attractive target for theft.

As the situation continues to evolve, police are urging scrap metal dealers to remain cautious and ensure that the metals they accept are obtained through legal means. “We need the public’s help to combat this growing issue,” said a police spokesperson.