Wall Street Journal Reports On The Growing National Copper Theft Problem

A September, 2006 article in The Wall Street Journal on the surge in copper thefts throughout the country seemed to be a relevant story to mention, given the high levels of home foreclosures that are resulting in homes being left vacant, and thus, vulnerable to copper thieves. While the article is over a year old, the guts of the story remain consistent with my recent posts on copper thefts (as well as other metals). Some of the highlights from the story:

• The high price of copper is hitting home -- literally. The metal's skyrocketing scrap value is inspiring criminals to hit houses, making off with copper coils in air-conditioning units, copper wires, even the copper pipes used for plumbing, leaving some perplexed residents without running water.

• Police have reported everything from copper vases swiped from gravesites to more serious thefts, such as the copper wire stolen recently from a power substation in Oklahoma City that utility officials say caused a six-hour power outage for 4,000 customers.

• Copper isn't the only metal sought by thieves. Products made from aluminum and steel are also being targeted -- everything from beer kegs to aluminum luggage carts. But thefts of copper -- which commands a higher price -- are especially onerous for homeowners and builders [Editor's note: not to mention mortgage lenders stuck holding repossessed homes] , as the metal is used throughout modern homes, including the inner coil of central air-conditioning units, electrical systems, gutters and water pipes.

Reportedly, the copper insides of a condensing unit -- the portion of a central-air system that sits outside -- can fetch $50 to $150 at a scrapyard, while replacing an entire unit that's been destroyed in the course of the theft can cost upwards of $2,000. One victimized homeowner commented that the theives who ripped off the copper from his air conditioner probably "didn't even get the market value for it. I would have preferred if they had just knocked on my door and asked for $100."

For more, see Copper and Robbers:Homeowners' Latest Worry (Thieves Target Wires, Pipes, Air Conditioners As Price of Hot Commodity Soars).

Go here for other posts on copper and other metal thefts. copper metal theft zebra