- uploaded: May 8, 2011
- Hits: 263
Uranium price Spike
The price of uranium has rebounded 20 per cent in three days as
utilities see a buying opportunity in the price collapse that followed
the earthquake and nuclear scare in Japan
Since last Friday it has rebounded to $59.75, according to MF Global, a
broker. â€œThere were consumers looking for a buying opportunity and this
was their buying opportunity,â€ said Max Layton, metals analyst at Macquarie.
Scott Lawrence, head of nuclear fuels at MF Global, said â€œa considerable
amountâ€ of uranium had been contracted during the drop in prices. â€œThe
result has essentially removed some of the available inventory from the
marketplace for immediate placement and as a result weâ€™ve seen another
price movement to the upside,â€ he said.
Radioactive death CHART attached: