Scrap metal thefts decline in Broome County

ALBANY (Scrap Monster): Complaints about scrap metal thefts have declined dramatically in Broome County.

Broome County Sheriff David Harder credits several factors for the decrease in the number of arrests for scrap metal, including greater vigilance by the region’s scrap metal dealers in notifying authorities of possible culprits.

However, another reason for the decline in metal thefts is a drop in worldwide commodity prices: Stealing scrap metal is not longer as lucrative a practice as it once was.

Copper, particularly, has been affected by softness in the metals commodities market, dropping from a high of $4.40 a pound in 2011 to a recent price of $2.62 a pound. Copper traded as low as $2.42 a pound in January, its lowest since July 2009.

“We don’t see the number of scrapping complaints we once did,” Harder said this week.

Previously, there were often reports of scrap metal thefts on a weekly basis, copper piping being cut from vacant houses and even reports of people entering occupied houses to lift the piping.

“It has died way, way down,” Harder said.

Analysts say the reason for the decline in copper prices is a current supply glut and lower demand for the metal.

Courtesy: www.pressconnects.com