With the plummeting economy making the metal industry one of its latest victims, the appeal of stealing scrap metal for resale could be dwindling.
Copper-wire thefts that skyrocketed in August have decreased with deflating values of scrap metal and restrictions on its sale put in place Oct. 1, GPD spokeswoman Summer Hallett said.
Earlier in the year, the wire was being stolen from construction sites, stripped of its insulation and sold to recycling companies.
A law that went into effect Oct. 1 requires companies to keep records on all clients bringing in scrap metal.
But the prices for metal, which was an in-demand commodity in August, have steadily decreased in the past few weeks because of the lack of demand, said Skip Bailey, an employee of Ray's Metal Works Inc.
"No one wants to spend money," Bailey said.
Charlie Barnett, a shop fabricator at Mark Hurm & Co., said August's high prices are a distant memory, and the price he pays for metals has dropped about three percent.
He said he thinks the demand has decreased because there are fewer construction projects.
Until the economy picks back up and people begin doing home improvements again, the industry will continue to suffer, he said.
Bailey said that Ray's Metal Works has been able to keep its doors open because of government work, but the company is only breaking even.
Bailey said employees are experiencing financial troubles though the jobs keep them working.
"We're not making or losing money," he said.
