Financial Players May Be Key to Uranium Spot Price Resurgence
Source: canada.com (10/25/07)
Both Ux Consulting and TradeTech reported a US$2 increase to US$80 per pound in the uranium spot price recently, marking the second straight week of gains after several months of stagnation or declines.
Some see the upward pressure on prices as a sign that uranium bottomed at US$75, but both buyers and sellers remain reluctant to commit to large volumes, RBC Dominion Securities analyst Adam Schatzker said in a research note.
But the big move may come from financial players who may be re-entering the market and could spark a lasting resurgence in spot prices.