Spot uranium market quiet

U308.biz and Uranium Investing News reports uranium market slows down with the upcoming holiday season though global nuclear deals keep rolling in.

Uranium price publisher Ux Consulting dropped its spot price estimate by US$1 earlier this week to US$54 a pound U3O8. It seems that while much of the surplus supply that kept prices down through last fall has now been used up, but buyers remain reluctant to chase the elevated spot prices of sellers looking to make a buck.

Bulls remain confident uranium really did make a turnaround before December’s plateau and that the recent rally was more than an insignificant spike in a market that’s dropping overall. Analysts continue to point fingers at the credit crunch as the culprit behind last fall’s uranium sell-off and resulting price drop. They also remind investors that prior to October’s panicked sell-off, spot uranium prices were stable at US$64.50 a pound U3O8 for some eight weeks, which marked the longest stable price point in three years.