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Commodities
Uranium Market Comes To A Standstill
FNArena News - April 08 2008
By Rudi Filapek-Vandyck
No transactions or new demand. No matter what you add to that little sentence, as long as it applies to the uranium market it is correct.
It would seem that sellers in the yellow cake spot market have chosen to take a step back, and hold out a little longer, in the hope that renewed investor interest for commodities and energy in general will help them achieving better prices for their product. Whether this will be the case will be revealed by activity and the direction of the spot price in the weeks ahead.
For now, industry consultant TradeTech has left its weekly spot price indicator unchanged at US$71/lb. The long term price indicator has remained unchanged at US$95/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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