Uranium prices plunge causing issues for Australian producers,
Herald Sun, Greg Roberts ,September 07, 2011
URANIUM prices have fallen back to levels last seen after Japan’s nuclear accident in March, causing further grief to struggling Australian producers.
The spot price had recovered to about $US56.50 after the Fukushima accident. Analyst group Resource Capital Research says the dynamics driving the sector have changed in the aftermath of the meltdown, with Germany planning to close all 17 of its nuclear power reactors by 2022.
The “fund implied price” – an indicator of market price expectations – is signalling a further fall in the spot price to $US45.95. The Merrill Lynch Uranium Equity Index, which measures the performance of uranium equities, has fallen 19 per cent over the past month.
It is down 27 per cent over the past three months and 23 per cent over the past year, according to the latest quarterly report by Resource Capital Research. Shares in Australia’s largest uranium producer, the Rio Tinto-backed Energy Resources of Australia, have fallen 13 per cent in the past month and 73 per cent in the past year.
http://www.heraldsun.com.au/business/uranium-prices-plunge-causing-issues-for-australian-producers/story-fn7j19iv-1226130940686
Please read this great web site:
http://nuclear-news.net/
http://www.heraldsun.com.au/business/uranium-prices-plunge-causing-issues-for-australian-producers/story-fn7j19iv-1226130940686
Please read this great web site:
http://nuclear-news.net/
