Uranium: $110/lb for December delivery
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Topic: Uranium — November 7th, 2007
One of our alert readers has just informed us that the price of uranium for December delivery has jumped from $98/lb to $110/lb.
So, first prize goes to Warwick who spotted the change on the NYMEX almost as instantly as it happened.
This web site now has 3590 subscribers and about 13,000 readers who regularly send us interesting snippets of information. Now don’t go too mad on this news as the price for delivery throughout 2008 is still around $81/lb, but it is nice to see the occasional spike in the price especially on a day like this when uranium stocks are taking a bit of a battering.
Hang on in there and sleep tight.
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In my humble opinion Bob the 80-$81 prices for U3O8 futures on NYMEX starting January 2008 show all the signs of being not kosher. Remember this NYMEX market is very new and tiny.
I have not known a futures market in anything to show such tension between one month and the next.
All it would take would be a concerted effort by those big interests favouring a lower uranium price, getting various entities to enter into both sides of these NYMEX contracts. So if they have to be unwound, profits balance losses.
Any other opinions ?
Comment by Warwick Hughes — November 11, 2007 @ 1:46 am
Warwick, We aggree with you, good call, many thanks!
Comment by Uranium Stocks — November 11, 2007 @ 11:57 am