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Uranium price Spike

Uranium price Spike

  • Ivision
  • uploaded: May 8, 2011
  • Hits: 263

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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. “There were consumers looking for a buying opportunity and this
was their buying opportunity,” said Max Layton, metals analyst at Macquarie.

Scott Lawrence, head of nuclear fuels at MF Global, said “a considerable
amount” of uranium had been contracted during the drop in prices. “The
result has essentially removed some of the available inventory from the
marketplace for immediate placement and as a result we’ve seen another
price movement to the upside,” he said.

Radioactive death CHART attached:



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