Uranium Prices Move Lower
Depending on who you listen to, the spot price of uranium is now either $110 or $120 per pound.
Ux Consulting Co. has cut the spot price by $10 (U.S.) a pound to $110, while the spot price at the other industry bible, TradeTech, fell $3 to $120.
Perversely, most uranium stocks are up sharply today, some by quite a bit. This just goes to show that the market has detatched from fundamentals for the time being.
And remember, the spot price is not the long-term contract price -- the price at which utilities buy uranium from producers. That remains stubbornly at $95 per pound.
Ux Consulting Co. has cut the spot price by $10 (U.S.) a pound to $110, while the spot price at the other industry bible, TradeTech, fell $3 to $120.
Perversely, most uranium stocks are up sharply today, some by quite a bit. This just goes to show that the market has detatched from fundamentals for the time being.
And remember, the spot price is not the long-term contract price -- the price at which utilities buy uranium from producers. That remains stubbornly at $95 per pound.
Labels: uranium
Check out my new gold and energy blog at MoneyAndMarkets.com
posted by Sean Brodrick @ 12:17 PM
<< Home