Japanese authorities are moving to combat a surge in thefts of valuable scrap metal by proposing mandatory identification checks for buyers and sellers in the industry. This initiative comes after a dramatic increase in reported incidents, particularly after trade restrictions on Russia were imposed following its invasion of Ukraine in February 2022. These restrictions disrupted imports and led to a spike in prices, significantly affecting businesses and construction sites across Japan.
The number of metal equipment thefts has escalated sharply over recent years. In 2020, officials recorded 5,478 incidents, which leaped to 10,368 in 2022. By 2023, thefts had surged to 16,276 cases, with projections suggesting they could exceed 20,000 in 2024. The financial toll of these thefts is estimated at 13.2 billion yen annually, underscoring the urgent need for regulatory action.
The proposal for mandatory identification checks is a response to these escalating thefts. Japanese police aim to create a registration scheme for those involved in the scrap metal trade, aiming to deter criminal activities and protect businesses from further losses. The bill advocating for this requirement is currently being finalized and is scheduled for submission to the Diet later this year.
The impetus for these thefts is largely attributed to the soaring price of scrap metal. The Japan Iron and Steel Recycling Institute reported that the price of scrap iron, which was approximately 10,000 yen per ton before 2000, spiked to 47,000 yen per ton by May 2023. This sharp increase in value has made scrap metal an attractive target for thieves seeking quick profits.
Authorities are hopeful that the introduction of identification checks will mitigate the risk associated with scrap metal trading. By ensuring that only verified individuals can engage in these transactions, officials believe it will be possible to reduce the number of thefts and stabilize the industry.
Leave a Reply