Monday
Nov052007
Uranium now at $93/lb!
Monday, November 5, 2007 at 07:23AM We are now of the opinion that the spot price of uranium has moved again and now stands at $93/lb. The uranium market is so small that just getting the data and being able to track the price of uranium is arduous to say the least.
The powers that be publish their data at certain times and we all wait with baited breath to see what it is. This web site has a number of well informed readers that tip us off with numerous bits of information along with the price of uranium as and when the price changes, so we are at times ahead of the general press thanks to them.
The spot price will make the headlines and have an effect on trader sentiment but please bear in mind that it is the long-term price of uranium that we need to watch. However this is still good news and good news should make for great day when the US and Canadian stock markets open.
Once again many thanks for all your input which has helped to put this web site in pole position on Google when we enter uranium stocks.
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Reader Comments (10)
Dear Sirs: Thank you for the update in the spot price, and so much sooner than anyone else. You usually indicate the source or link for the information, but not this time. Could you provide this?
Thanks, and it's interesting to hear you have the "pole position" for Google searches.
Bob
Bob, Sorry about the omission we were in a bit of a rush.
Its thanks to stockinterview and all those who spotted it and sent it to us.
From here: http://www.stockinterview.com/uranium-index.html
I just saw news on U3O8.biz that the Nymex futures is at $98.00
nymex.com
this is outrageous!!! $93/lb! we want cheap uranium. :(
The December price for uranium is $98, however for most of 2008 it is around $81/lb.
We agree that we do want cheap uranium but we have been asleep and dependant on oil for far too long so the nuclear industry has to play catch up!
Check NYMEX for Nov 7th session, uranium futures for next month are quoted up $12 to $110.
Warwick, Thanks - we will try and get it posted tonight.
Reuters News, Nov. 7th, is that Areva is considering reopening some mothballed US uranium mines. In the same article, "many market experts" expect it (spot price) to reach $120 in coming months. It may or may not be true, but it would be nice to know who the "experts" are.
We are certainly not experts but we do try and include an audit trail back to where a news item originated, however the originator may not be an expert either. Forward but steady as we go is the order of the day.