Uranium Fears Overblown?

FNArena reports on the uranium spot price indicator with the recent Japanese natural disaster .

The market news is quoted as saying:

In the thinly traded spot market, panic selling has been driven by speculators caught out on positions and speculators were still selling last week, Trade Tech notes. But speculators were also evident on the buy-side at these lower levels along with producers and utilities. A total of eight transactions totalling 900,000lbs of U3O8 equivalent were concluded last week, but the consultant notes demand is discretionary and price sensitive.

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