Metals Theft Appears on Decline

For example, the National Insurance Crime Bureau’s (NICB) November 2017 report indicates a 60% decline in insurance claims resulting from metals theft from 2014 through 2016, the latest reporting period. While the number of registered users of the ScrapTheftAlert.com system continues to increase, the number of alerts have declined over the last several years.

Why it’s important … Metals theft may be off the highs of the not so distance past, but so is the price of copper.

But, but, but … As the price of copper is cyclical, so too might be the rate of metals theft. The NICB’s report also cites a “statistical-significant correlation” between theft claims and the price of copper.

Be Aware … ReMA continues outreach efforts with law enforcement. Most recently, ReMA exhibited at the FBI National Academy Associates Annual Conference, held this year in Quebec City. Attendees of this conference are executive level law enforcement officials from around the world. It is better to keep the lines of communication open and proactive with law enforcement even though theft might be down, rather than starting over when prices increase and theft rates follow.
 

SPAN Main