Copper Theft May Increase as Price of Copper Jumped 13% after Trump Tariffs
Almost half of the copper used in the U.S. is imported, according to the U.S. Geological Survey.
SEATTLE (Scrap Monster): Described as the best one-day gain since 1989, copper trade is now around $5.70 per pound.
A 13% jump this weekend, after President Donald Trump said there would be a 50% tariff on copper imports to the US.
84 Recycling in Visalia has felt the impact in recent times.
'It has skyrocketed this last year, just because of the demand. Right now, the price of copper and recycling is the highest it has ever been,' says Owner, Courtney McCarthy.
Courtney continues, 'So we are just selling as quickly as we are buying but it's also unstable so everybody is buying scared so nobody knows what's gonna happen. So right now what we are doing is we are getting it in as quickly as we are shipping it out. Because there's just no guarantee.'
Almost half of the copper used in the U.S. is imported, according to the U.S. Geological Survey.
Copper is among the top three metals used, following iron and aluminum and it is key to electrical wiring.
Because of the profitable market, the Tulare County Sheriff's Office (TCSO) says copper crimes could see an uptick.
'It's devastating for our farmers. I was just with a farmer the other day who was hit three times, at the same pump site, three separate times in a 12-month period. He spent $120,000 not on the loss of the copper but in the damage in the theft,' explains Cpt. Rader with the Tulare County Sheriff's Office.
TCSO is urging farmers to secure their properties.
Cpt. Rader says their message to thieves is, 'The Tulare County Sheriff's Office has the most experienced and the most aggressive ag crime unit and there is a high probability that we are gonna find you and arrest you.'
TCSO also mentions legislation, such as Prop 47 and 57, have made it difficult to hold criminals accountable, many of which are repeat offenders.
They urge anyone who may have information on copper thieves to reach out to them.
Courtesy: www.abc30.com