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Commodities
US$64.50 It Is For Spot Uranium
FNArena News - August 20 2008
By Rudi Filapek-Vandyck
As expected, industry consultant Ux Consulting has left its weekly spot price indicator at US$64.50/lb this week, as activity in the uranium spot market has all but dried up rapidly after weeks of frantic activity in June and July.
Earlier, fellow industry consultant TradeTech also decided to leave its own weekly spot price indicator at US$64.50. Both industry consultants currently have a longer term price indicator of US$80/lb, which was equally left unchanged at the recent market updates.
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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