London ( CNN ) -- An artwork by Barbara Hepworth , one of the most highly regarded sculptors of the 20th century , has been stolen from a park in London , amid what art experts fear is a metal theft `` epidemic . '' The bronze sculpture called `` Two Forms ( Divided Circle ) '' stood in Dulwich Park for more than 40 years until it was removed on Monday night . The artwork was insured for Â£500,000 ( $ 785,000 ) but one art expert said it was likely to be sold for scrap for just a few hundred pounds . Two years ago police said they believed that a Henry Moore bronze sculpture `` Reclining Figure , '' valued at Â£3 million , stolen from the late artist 's estate north of London was probably sold for just Â£1,500 . The crime comes as surging demand for copper , lead and bronze has led to thefts from railway lines , phone lines and even war memorials in Britain . This has led to delays on the rail network , while the theft of cables at a Welsh hospital last week led to the cancellation of 100 operations , including some for cancer treatment . Julian Radcliffe , chairman of the Art Loss Register , which tracks stolen works , said the chance of the Hepworth sculpture being recovered was low . `` The police are putting much effort into this theft , but due to the metal theft epidemic it was probably stolen for its scrap value . '' The artwork was unlikely to have been stolen by a collector , Radcliffe said . `` Of 2,000 stolen items recovered in recent years , all but two were taken for financial gain . Any collector would want to publicize that they had an artwork so the idea of someone sitting in a cave surrounded by art is just a figment of novelists ' imagination . '' Art lovers were distraught over the theft of the work by Hepworth , who died in a fire at her studio in St. Ives , Cornwall , in 1975 . Simon Wallis , director of the Hepworth Wakefield gallery in northern England , said : `` Barbara Hepworth is one of the greatest artists of the 20th century and appreciation of her work has never been greater . `` Her work is a major part of this country 's cultural heritage and we very much hope the work will be recovered , so that the public can once again enjoy Two Forms ( Divided Circle ) in its original setting . '' UK politicians are facing calls to increase controls on scrap metal dealers to counter thefts during the economic downturn . The price of copper has risen exponentially due to increased demand for raw materials from countries such as China , and now trades at more $ 8,500 per ton . Gold , brass and lead values have also increased by almost 20 % in 2011 .
Bronze artwork by sculptor Barbara Hepworth stolen from park in London . Art expert says it was likely sold for scrap for just a few hundred pounds . Demand for metals has led to theft from cars , telephone boxes and war memorials . Politicians are facing pressure to increase controls on scrap metal dealers to counter theft .