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Commodities
TradeTech Puts Spot Uranium At US$95/lb
FNArena News - August 28 2007
By Rudi Filapek-Vandyck
The message from industry consultants TradeTech and UX Consulting remains clear: sellers are very uncertain about what to accept for their product and buyers are still looking on from the sidelines so spot prices continue to be weak.
TradeTech cut its weekly U3O8 price indicator by US$10 to US$95/lb this week, still US$5 above the price released by Ux Consulting last week.
TradeTech’s new assessment also indicates spot uranium prices might find support at the longer term price of US$95.
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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