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Dec 19, 2007
Drapers vigilant as metal becomes more precious
19 December 07
The director of Albert Draper and Sons Ltd has declared that his company will be extra vigilant over Christmas as the soaring price of metal has lead to an increase in opportunist theft.
Thieves are targeting a range of metals after prices shot through the roof with increased demand from China and the weakened Dollar both having an effect. Peter Draper explains:
“It isn’t only traditional metals such as copper and lead which are affected; there have been massive increases in the prices of more exotic metals too. The price of Titanium which is used in specialist engineering and in electronic equipment has soared up to £80,000 per tonne. Tungsten, which is used in various aerospace applications and Nickel, found in coins has also seen huge price rises in recent times.”
Another area of concern is the recent rise in the theft of catalytic converters from cars. The device is used to reduce emissions from vehicles; however, they contain precious metals such as Platinum, Palladium and Rhodium which can be sold for thousands of pounds per ounce.
Peter Draper believes it’s a case of getting the balance right:
“The correct procedures are in place, it’s just a case of being extra vigilant. The level of interest is tremendous, we’ve even introduced a metal value calculator on our website and the public can’t get enough of it. However, as a licensed metal merchant, it’s up to us to ensure materials are recycled efficiently and those on the wrong side of the law don’t benefit.”
Drapers is a family owned firm in its 85th year which has recently invested over half a million pounds into new equipment and site infrastructure at their two-acre site in Raven St, Hull as part of a long term strategy to create a recycling centre of excellence. Currently under the third generation of owner managers, the company has a UK wide reputation to recycle waste of any size from almost any industry. In the past this included steam trains, aeroplanes, trawlers and even an old Cold War submarine. Much of the material is exported to many different countries across Europe, and as far afield as China.
