Uranium oversupply, and prices way down
Nuclear giants stockpile fuel while price is cheap Times Online, June 1, 2010 Some of the world’s biggest energy companies are stockpiling the nuclear fuel used to power reactors as they try to capitalise on rock-bottom uranium prices.An oversupply of nuclear fuel on international commodity markets has followed five successive years of rapid growth in uranium ore production in Kazakhstan, which has nearly quadrupled its output since 2004.
Raw uranium prices have tumbled to around $40 per pound — almost one quarter of the levels of $140 in 2007……About one third of the world’s total supply of nuclear fuel comes from Russian nuclear weapons that have been decommissioned as part of a disarmament agreement struck with the United States at the end of the Cold War. Nuclear giants stockpile fuel while price is cheap – Times Online
Oil, Gold And Uranium prospects analysed | Uranium Investing News, 1 June 2010, Turning to the uranium market, BA Merrill Lynch suggests the combination of ample supply, aggressive sales from new market entrants and well-covered utility requirements means there is little chance of any spot market tension (upside) this year without any major disruption to production…….buying and holding material becomes attractive at this level when compared to term-escalated contracts. Oil, Gold And Uranium prospects analysed | Uranium Investing News
Uranium Remains Weak FNArena News – June 01 2010 By Chris Shaw Spot uranium has given up some recent gains, leading industry consultant TradeTech to reduce its indicative spot market price another US25c last week to at US$40.50 per pound. The fall reflects aggressive attempts by sellers to motivate buying interest, which is coming via material being offered at lower prices.
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