The Conversation (0)
FNArena reports on the uranium price and activities over the last few weeks.
FNArena reports on the uranium price and activities over the last few weeks.
The market news is quoted as saying:
Last night fellow uranium industry consultant UxC suggested weakness will indeed hit the spot uranium market as speculative holders join in the panic. Speculative players, such as hedge funds, were blown away in 2007 when the price peaked at US$136-138/lb and then collapsed, were scared away for the market for some time, but recently have been moving back in as the uranium price has run from the 40s to the 70s. Positions are nowhere near as significant as 2007, so UxC does not expect a price collapse back to the US$30 lows. But panic and a temporary withdrawal from genuine buyers could see more recent lows above US$40/lb tested, the consultant suggests.