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Commodities
Spot Uranium Remains At US$74/lb
FNArena News - March 25 2008
By Rudi Filapek-Vandyck
No change is probably good news as global deleveraging is playing havoc with commodity prices elsewhere, but spot uranium remains unperturbed at US$74/lb.
Industry consultant TradeTech reports last week saw one relatively small deal being concluded for 100,000 pounds of yellow cake. This has brought the total for this month so far at 200,000 pounds. In other words: it's quiet on the uranium spot market.
No deals were being concluded in the long term market, hence the long term price indicator of US$95/lb has remained equally unchanged.
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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