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Thursday, April 17, 2008

Bullish Uranium News?

Uranium has had so many stakes stuck in its heart it could give Bela Lugosi a run for the money, and the spot price is down AGAIN in the most recent week. But here's some interesting news from Platts ...

Deutsche Bank may form uranium fund

Platts has learned that Deutsche Bank AG through a subsidiary called DB Commodity Services is working to create a fund that will buy physical uranium through New York Nuclear Corp. and hold the uranium in storage accounts that Nynco has at uranium conversion facilities in North America and Europe. DB has been making presentation to investors about the fund.

And utility demand may be more than some have anticipated later this year, an analyst said, given that utility long-term uranium contracts no longer contain the delivery flexibilities those contracts once had. This means that utilities may need to come to the spot market to buy lots of 25,000 to 100,000 pounds to meet actual nuclear fuel reload requirements, the analyst said.


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