An EMC commercial policyholder recently took a smart step and invested in heavy metal cages with alarm wire and a louder outdoor siren system to protect his air conditioning equipment. This precaution was necessary to combat one of today’s newest risks — copper and aluminum theft.
Should you be concerned about the growing rate of copper and aluminum theft?
A quick survey of the Institute of Scrap Recycling Industries’ website illustrates how prevalent and costly this crime is becoming.
- In Tennessee, a utility reported the theft of #2 size AWG solid transmission copper wire, estimated at 1,400 feet and 288 pounds.
- The following were among the materials reported stolen from a construction site in Colorado: 1,000 feet of ½-inch copper, 1,000 feet of ¾-inch copper, 500 feet of 1-inch copper and a cutter power head.
- Eight 54-foot copper pipes (1.5” in diameter) were taken from a construction site at a school in Pennsylvania.
What’s Causing The Increase In Metal Theft?
The number one reason why thieves have turned their attention to copper and
aluminum is the price. In 2001, scrap metal sold for $77 a ton. Today, it is
quickly approaching $480. Combine the price increase with the relative ease of
stripping construction sites and businesses of metal, and it’s no wonder that metal
theft has become such a lucrative business for thieves.
Who Is At Risk?
If your business has any substantial equipment or
materials made of copper, aluminum or other metals, you could be a potential target.
Utilities, for example, are reporting a dramatic rise in burglaries at substations and
other facilities. Unsecured construction sites are an open invitation to metal thieves.
Losses have been reported from school athletic fields and city parks to churches and small
businesses. Law enforcement departments are responding to a growing number of calls about
thieves stripping wire out of home construction and renovation sites.
It’s not just copper and aluminum that are attractive to thieves. Since 2004, cities across the country have experienced waves of manhole cover theft. Fifty million dollars worth of stainless steel beer kegs are stolen every year. Catalytic converters have been pulled out of cars for their palladium and platinum.
What’s The Answer?
Unfortunately, as long as there is a market for scrap metal, people will try anything to obtain
it. Although 26 state legislatures and several cities have toughened penalties for metal
theft, EMC loss control specialists continue to stress the importance of securing construction
sites and any exterior metal equipment to deter metal theft and reduce the expense of having
to replace stolen equipment and materials.
