Report: Stealing is faster than rising, copper becomes the "number one emerging theft target" in the United States.
According to reports, Trump announced a 50% tariff on imported copper starting August 1st, causing copper prices in the United States to reach a historical high. Criminal gangs are now targeting shipments of copper materials on their way to transport. The increase in copper theft cases in the United States is even outpacing the rise in copper prices. Global copper prices have risen across the board this year, with the U.S. market seeing an increase of over 35%. Risk assessment agency Verisk CargoNet listed copper as the "number one emerging theft target" last year, with their data showing a 26% increase in theft cases in the logistics industry in the U.S. and Canada by 2024, with copper-related crimes making a significant contribution. The agency predicts that the number of cases will reach a new high in 2025, with reports of copper theft cases in the first half of this year increasing by 61% compared to the same period last year, and there is a common issue of underreporting in the industry. "Criminals always go after high-priced and easily sellable goods," said Keith Lewis, Vice President of Operations at Verisk CargoNet.
Latest