Monday's Uranium Futures Results

In Monday's NYMEX action, the front-month (June) uranium future settled at 135 after making a high of 140. But only six contracts traded. Interestingly, 20 contracts for January traded at a price of 150.50.

So speculators or whoever is trading this expect the price of uranium to be $150 per pound in January.

Remember, just because the futures settled at that price yesterday doesn't mean prices can't go up or down a lot today. Especially when the future is so illiquid, we could see big jumps either way.

UPDATE: Uranium Spot Price Reaches $120/lb After Futures Launch

ST. LOUIS (ResourceInvestor.com) -- TradeTech increased uranium spot prices to an all-time record of $120 per pound in anticipation of today's startup of futures trading on the New York Mercantile Exchange. The June contract hit $140/lb in its first day, with January 2008 U308 trading at $150.50/lb, raising the question of whether futures will trace the price of uranium or lead a life of their own.

A Ux Consulting Company (UxC) spokesperson told RI that as the current date gets closer to the futures settlement date, “you’re going to see the gap narrow” between the spot price and the contracts.

You can read the whole thing by CLICKING HERE.

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