Spot prices fall but analysts bullish as utilities return to the market

Uranium Investing News & u3o8.biz reports uranium spot prices continue to drop even though Washington’s huge rescue plan of its financial service industry bail-out is in place, however a leading uranium price publisher says utility interest is returning to the market.

Tradetech reports on its website that spot uranium prices were under downward pressure all last week, and not immune to general economic market woes. Spot uranium prices crashed last week, as did the majority of the markets, prior to the bailout announcement. Tradetech reports a drop of US$3 to US$60 a pound U3O8; rival price publisher UxConsulting says prices were down US$4 to US$58 a pound U308.

According to Tradetech, at least one distressed seller was keen to unload uranium at a price several dollars below then current levels last week, but come the end of the week, three other transactions were concluded at prices above those observed at mid-week.

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