Australian news, and some related international items

Uranium market flat, listless, sluggish and languishing, and getting worse

Uranium Lacked Energy In May June 5, 2012  International Business Times, The best you can say for the global uranium market in May is; at least it was steady. Other commentators used words like flat, listless, sluggish and languishing, with the slight dip in the spot price over the last week of the month doing little to help matters.

Industry consultant TradeTech reports there were just 17 transactions in the uranium spot market last month, with just a tad over 2 million pounds U3O8 equivalent shifted over the course of May. The level of activity was well down on April, with the previous month seeing 3.2 million pounds being traded.

The bulk of May spot market buyers were traders, with the market seeing few signs of life coming from utilities. ….. There was little in the way of Australian broker commentary on the topic of Uranium last week, although JP Morgan analyst Mark Busuttil did say he thought current uranium spot prices were too low and did little to encourage new production.

June 8, 2012 - Posted by | AUSTRALIA - NATIONAL, business, uranium

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