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Spot Uranium Supported By Shortfall, Speculation

Commodities | Oct 22 2009

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By Rudi Filapek-Vandyck

Spot uranium continues to rise, supported by a production shortfall at BHP Billiton’s Olympic Dam mine and market speculation the Department of Energy (DOE) in the US might sell less product in the short term than previously thought.

Earlier this week -see “BHP Injects The Fizz Back In Uranium“, 20 October, 2009- we reported that industry consultant TradeTech had further raised its weekly spot price benchmark for the uranium industry. Today we can confirm that fellow-consultant Ux Consulting has even set its own price benchmark a little higher.

UxC raised its weekly price benchmark this week by US$1.75 to US$47.75/lb. Its long term price benchmark has remained steady at US$64/lb.

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