Saturday, May 22, 2010

Uranium Market To Remain Subdued

Comment:  Hope the price of uranium stays in the toilet and federal govt, stop giving taxpayers to nuke plants!

18/05/2010 3:15:03 PM
By Greg Peel

Uranium sector consultant TradeTech has left its weekly uranium spot price indicator at US$41.25/lb following last week's transactions.

There is a lot of uranium being mined across the globe at present to meet this expected surge in demand, but it is only going into stockpiles at present until called upon. Kazakhstan, for example, increased its uranium production by 30 million pounds over 2009 while global demand only increased 8 million pounds over the same period.

It is for that reason MF Global can see little change to current uranium spot prices while there is clearly no need for utilities to rush into buying.

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