Uranium Trying To Breach US$60/pound

Ninemsn.com reports on uranium spot price trying to leap to the US$60/pound mark.

The market news is quoted as saying:

The spot uranium market has awoken as if from a slumber this past month and ticked up each week with a couple of big jumps in the mix. The shift up towards the US$60/lb mark has had two effects, notes industry consultant TradeTech.

The first is that, sensing growing interest on the buy-side, patient sellers have been backing off in the hope of securing higher prices. The second is that the recent moves have seen speculative buyers falling away on the assumption the boat has sailed for now.

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