NEWS AND COMMENT: the story comes from Japan where theft remains relatively rare resulting in perhaps, by European standards, lax security. This is one important aspect of the story and the second is the fact that the price of copper has increased and continues to increase dramatically as it hit a record high of just over $11,000 per tonne on the London Metal Exchange in May. Aslo the Japanese yen is currently week which has made the metal even more valuable in that country.
RELATED: Remarkably the fishing cat hunts in trees to kill birds
There have been thousands of incidences of gangs stealing copper wire connecting solar panels in Japan (see below) and in this instance about 170 m of copper wire which connected up an air conditioning system at a poultry farm. A power source was connected to the air-conditioning units with this copper wire which was apparently entirely removed by thieves in the early hours of last Tuesday morning in Shibukawa, 90 minutes north-west of Tokyo.
Farm workers rushed the facility after a power cut was detected because of the lack of copper wire. This occurred at 1 AM in the morning. When they arrived they found that £26,000 worth of copper wire had been removed and the air-conditioning was dead resulting in about 1 million birds dying due to the heat according to the police.
As mentioned there has been a series of similar thefts across Japan. There were about 5,300 cases of copper transmission cable theft last year in the Kanto region around Tokyo which is an increase of 350% on 2022 according to The Times report based on a survey by the Yomiuri Shimbun.
The reason for the rapid increase in value of copper is because of the predicted growth in demand for the metal for renewable energy, electric vehicles and data centres.
One solar farm in Ibaraki prefecture reported being raided six times in six months. Some solar panel farms are using cheaper aluminium wire and they’ve improved security.
The authorities are urging metal dealers to carry out more stringent checks on the origins of the metals that they buy.
Comment: this would seem to be an emerging new problem in Japan where, as mentioned, theft is historically infrequent. Perhaps the culture is changing. I asked Google Gemini about this and this is its response:
Theft in Japan: A Shifting Trend?
While Japan has historically been known for its low crime rates, including theft, there is some evidence suggesting a potential shift.
Factors Contributing to Potential Changes
Several factors might be contributing to this potential change:
- Economic Hardship: Economic downturns can lead to increased crime rates as people struggle to make ends meet.
- Social Changes: Rapid societal changes, such as an aging population and a decline in traditional values, might influence social norms and behaviors.
- Tourism: Increased tourism can sometimes correlate with a rise in petty theft.
- Data Accuracy: It’s important to consider the reliability of data and potential changes in reporting methods.
Evidence and Challenges in Data Interpretation
- Limited Public Data: Japan has a strong emphasis on privacy, which can limit the availability of detailed crime statistics to the public.
- Focus on Serious Crimes: Traditional reporting often prioritizes serious crimes, potentially overshadowing trends in petty theft.
- Anecdotal Evidence: While not conclusive, personal experiences and news reports can offer some insights into potential changes.
It’s crucial to approach this topic with caution and rely on credible, data-driven analysis.
Copper’s Rising Value: A Hot Commodity
Copper prices have been on a significant upward trend in recent times. This surge can be attributed to several key factors:
Driving Factors for Copper Price Increase
- Global Economic Recovery: As the world economy recovers from the pandemic, the demand for copper, a key component in construction, manufacturing, and renewable energy, has surged.
- Green Transition: The shift towards renewable energy sources like electric vehicles and solar panels requires substantial amounts of copper, driving up demand.
- Supply Chain Disruptions: Issues related to mining operations, logistics, and labor shortages have impacted copper supply, contributing to price increases.
- Geopolitical Tensions: Global geopolitical uncertainties often create market volatility and can lead to increased commodity prices, including copper.
- Inflationary Pressures: Rising inflation rates can also push up the price of commodities like copper.
Impact of the Increase
The rising price of copper has implications for various sectors:
- Construction: Increased costs for copper-intensive projects.
- Manufacturing: Higher production costs for industries using copper components.
- Renewable Energy: Potential impact on the cost of renewable energy projects.
- Investment: Copper is often seen as a safe-haven asset during times of economic uncertainty, attracting investor interest.
It’s important to note that commodity prices can be volatile. While copper has seen significant growth, factors like economic downturns or increased supply could influence future price trends.
Examples of Copper Theft
Copper theft has become a significant issue due to its high value. Here are some common examples:
Infrastructure and Utilities
- Telecommunication cables: Thieves target underground or overhead cables for the copper within.
- Electrical power lines: Stealing copper conductors can cause widespread power outages and damage to equipment.
- Water pipes: Copper pipes from homes, businesses, and industrial sites are often targeted.
Construction Sites
- Wiring and piping: Copper wiring and plumbing materials are prime targets for thieves.
- Air conditioning units: The copper coils within these units are valuable.
Other Targets
- Scrap yards: Theft of copper from scrap yards can occur.
- Historical and cultural sites: Copper statues, monuments, and architectural elements can be stolen.
- Vehicles: Catalytic converters, which contain precious metals including platinum and palladium, are often targeted for their copper content.
