A compilation of brief news reports for Monday, May 7, 2007.
A 30 meter section of a gas pipeline in Luka (near Kiev) in Ukraine has been destroyed by an explosion. Although supplies to Europe via this pipeline have stopped, Ukrainian Energy Minister Georgi E. Boyko said that supplies to Europe would not be affected.
“There are no changes in volumes of gas being transported,” Yuri Korolchuk said. “Volumes due to pass through the damaged section are being redirected through the Soyuz pipeline.”
Normal flows are reported in the Czech Republic, Hungary, Poland and Romania.
- “Blast damages pipeline in Ukraine” — Russia Today, May 8, 2007
- Natalya Zinets, Reuters. “Blast hits Ukraine gas pipeline” — The Scotsman, May 7, 2007
Copper prices are rising. Between record copper imports from China, and a mining strike in Peru, the prices have climbed to over $8100 (United States dollars) a tonne, for a gain of $575 dollars over the last week. However the upward trend is not new, it has been climbing for quite some time. In April 2003, the price of copper was under $2000 a tonne.
The metal market has been tending up due to growth in the Chinese industrial production. This trickles down to the local level, where the buying price at scrap yards is ever climbing, making scrap metal collection a more profitable endeavour for individual people using pick up trucks or other such vehicles to collect and cash in the scrap metal at metal buying yards. It can be collected via agreements with businesses, from the garbage, or, sometimes, by theft.
Copper prices fell today on the NYMEX commodity exchange from US$3.7545 per pound to US$3.7125 based on the July futures contract.
- “Copper up but crude oil down” — Financial Express, May 6, 2007
- Millie Munshi. “Metals Bubble Poised to Burst on Increasing Supplies” — Bloomberg L.P., May 7, 2007
- “Commodity Futures” — Bloomberg L.P., accessed May 7, 2007
One man was killed and another injured by an exploding backpack in the parking lot of the Luxor Hotel in Las Vegas, Nevada. The explosion happened at 4 a.m. PDT when the victim tried to remove a the object left on top of his car.
Agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) are on the scene. Aerial images did not show any apparent damage.
“We believe the victim was the intended target of this,” Bill Cassell said, spokesperson for the Las Vegas Metropolitan Police Department. “This is being treated as a homicide in which the weapon used to cause death is a non-traditional weapon.”
Both of the victims worked at the Luxor.
- Associated Press. “1 dead, 1 hurt in Las Vegas parking lot blast” — MSNBC, May 7, 2007
- “Explosion kills man in Vegas outside Luxor hotel” — Reuters, May 7, 2007