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Commodities
Uranium Tumbles Below US$50/lb
FNArena News - January 28 2009
By Rudi Filapek-Vandyck
Industry consultant Ux Consulting has lowered its weekly U3O8 spot price indicator to US$48/lb, slicing off a full US$3 from its market pricing assessment last week.
Earlier, peer TradeTech only lowered its own weekly spot price benchmark for the uranium industry by US$1 to US$50/lb.
Long term price benchmarks currently stand at US$70/lb.
Our archive tells no lies. FNArena warned its readers well before the price of crude oil peaked in 2008 the speculator bubble would deflate with devastating
consequences for those holding oil company shares. In August we warned the most severe correction in modern history was forthcoming for natural resources.
In 2007 we warned the problem with US subprime mortgages would prove much bigger than experts and media were anticipating (among other things).
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