Metal theft

Metal theft is "the theft of items for the value of their constituent metals". It usually increases when worldwide prices for scrap metal rise, as has happened dramatically due to rapid industrialization in India and China. Apart from precious metals like gold and silver, the metals most commonly stolen are non-ferrous metals such as copper, aluminium, brass, and bronze. However, even cast iron and steel are seeing higher rates of theft due to increased scrap metal prices.

One defining characteristic of metal theft is the motivation. Whereas other items are generally stolen for their extrinsic value, items involved in metal theft are stolen for their intrinsic value as raw material or commodities. Thefts often have negative consequences much greater than the value of the metal stolen, such as the destruction of valuable statues, power interruptions, and the disruption of railway traffic.

Scrap metal has drastically increased in price over recent years. In 2001, ferrous scrap sold for $77 a ton, increasing to $300/ton by 2004. In 2008, it hit nearly $500/ton.

Some elected officials and law enforcement officials have concluded that many metal thefts are by drug addicts stealing metal in order to fund their addictions. Some officials believe that many of these drug-related metal thefts are caused by methamphetamine users; however, this varies by the location of the metal being stolen. Another explanation for the phenomenon is the unusually high price of non-ferrous metals coupled with elevated levels of unemployment. Regardless of the reason, the industrialization of developing nations helps to increase the demand for scrap metal.

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