Uranium Prices Increase 3 Percent; Traders Focus on $70 a Pound

Bloomberg reports an increase in uranium price and traders are focusing on a $70/lb price level.

The market news is quoted as saying:

Uranium prices rose 3 percent in the past week and traders are focusing on whether the nuclear fuel will test the $70 a pound level, according to Ux Consulting Co.

Uranium-oxide concentrate for immediate delivery traded at $68 a pound in the week to yesterday, UxC said in an e-mailed report today, based on the most competitive offer the Roswell, Georgia-based company was aware of. That compares with $66 on Jan. 11 and $62.50 on Jan. 4.

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