Wednesday, July 10, 2013

No Fireworks For Uranium

Slim volumes reported
- No changes to prices
- US DOE adds more uncertainty
- Macquarie sceptical about Japan restart bump

By Andrew Nelson
Last week was slow and quiet in the uranium market.

The quiet market can be mostly attributed to the Fourth of July holiday in the US on Thursday which for most in financial markets was extended to a long weekend. The spot price ended last week unchanged at US$39.55/lb.

Yet despite the slow week and thin trade, there was news that could well shape the market over the longer term.

The US Department of Energy (DOE) put out an eagerly awaited update to its 2008 Uranium Inventory Management Plan. Unfortunately, the document many had hoped would provide some clarity and comfort instead raised far more questions than were answered.

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