Uranium Prices See Largest Weekly Dip
Source: Seeking Alpha (7/29/07)
While TradeTech's uranium spot price indicator remained at US$129 per pound as of July 20, after falling for the three consecutive weeks prior due to less interest from buyers, fellow market monitor Ux Consulting reported a US$10 dip to US$120 last week.
While long-term uranium prices for both groups remain at US$95 per pound, UxC's move represents the largest ever single week drop in weekly prices, RBC Capital Markets analyst Adam Schatzker said in a note to clients. Prices have fallen US$16 this month, or nearly 12%, after averaging a 11% monthly gain during the past 10 months, he added, citing the UxC report.