Europe’s debt crisis puts uranium market further into the shadows
With Europe hanging as a cloud over everything at present, it seems the uranium market is also in the shadows.
Europe Crisis Hits Uranium FNArena News, By Greg Peel, – May 25 2010 Uranium sector consultant TradeTech has lowered its weekly uranium spot price indicator from US$41.25/lb to US$40.75/lb this week.
The drop is a disappointment given sellers had been hoping clearance of the big US Department of Energy sale order, which had been overhanging the market but was satisfied last week, would open the market up to some healthier trading levels…..
TradeTech suggests the price decline was prompted by a combination of factors including some sellers’ need to raise cash, the availability of inventory insensitive to price, and general nervousness surrounding the European debt crisis and weaker euro.
With Europe hanging as a cloud over everything at present, it seems the uranium market is also in the shadows.
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