Photo © Ron Levine
It appears that some people haven't thought carefully about their metals business plan before moving to secure investment dollars. WGMD News has reported that the Delaware State Police issued a news release that three irrigation systems have been targeted for copper tubing theft in the Frankford, MD area in the past several weeks. This follows another news release from January in which the Delaware State Police asked for citizens to be aware of copper theft in farming irrigation systems.
With copper prices floating on the LME and COMEX in the $3.50/lb range, a pickup truck bed laden with tubing can fetch a handsome sum from an unscrupulous or unwary scrap purchaser. Rising commodity prices over the last several years have led to a sharp uptick in the rate of scrap metal crime, from aluminum siding to telecommunications cable theft. This problem has even started to get the attention of state legislators; the National Conference of State Legislatures reports that half the states in the US have introduced bills to require better record keeping from scrap metal dealers, along with fines for purchasers of stolen scrap metal.
If you're a scrap metal dealer, you should join the ISRI and use their site, ScrapTheftAlert.com, to keep abreast of news of theft in your area and to minimize your risk of purchasing stolen metals. As a citizen, keep an eye out for your neighbors - if you see metallic material being removed from their property and you aren't sure why, consider contacting your local police department.
Comments