Antinuclear

Australian news, and some related international items

Much uranium being mined, but not selling!

There is a lot of uranium being mined across the globe at present  ……..but it is only going into stockpiles at present…..It is for that reason MF Global can see little change to current uranium spot prices

Uranium Market To Remain Subdued. 18/05/2010 ninemsn Money, By Greg Peel Uranium sector consultant TradeTech has left its weekly uranium spot price indicator at US$41.25/lb following last week’s transactions.The focus of the week’s activity was a 600,000lb sale on behalf of the US Department of Energy while three further transactions totalled 300,000lbs. The fact that the DOE’s agent was willing to accept lots of small bids, rather than one big one, had traders, producers and utilities all lining up, TradeTech notes……. the fact remains there is plentiful supply – hence no change to the weekly spot price indicator.Indeed, it is the opinion of analysts at MF Global that the uranium price will be range-bound for the rest of 2010. The problem lies in the timing difference between nuclear plant commissioning and start-up………. the fact remains nuclear plants take several years of planning and construction before they are finally fired up…..

There is a lot of uranium being mined across the globe at present to ……..but it is only going into stockpiles at present until called upon. Kazakhstan, for example, increased its uranium production by 30 million pounds over 2009 while global demand only increased 8 million pounds over the same period.

It is for that reason MF Global can see little change to current uranium spot prices

Uranium Market To Remain Subdued

May 22, 2010 - Posted by | uranium | , , , , , ,

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