• 3 minutes Will Variants and Ill-Health Continue to Plague Economic Outlooks?
  • 6 minutes Forecasts for Natural Gas
  • 14 minutes NordStream2
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 13 hours Communist China Declared War on the US Long Ago Part 1 of the 2-part series: The CCP's War on America
  • 7 hours China's aggression is changing the nature of sovereignty.
  • 15 hours Delta variant in European Union
  • 3 days Ukrainian Maidan after 8 years
  • 21 hours President Biden’s Nuclear Option Against OPEC+ - Waste of Time
  • 4 days OPEC+ Expects Large Oil Glut In Early 2022
  • 4 days Microbes can provide sustainable hydrocarbons for the petrochemical industry
  • 2 days Сryptocurrency predictions
  • 4 days CO2 Electrolysis to CO (Carbon Monoxide) and then to Graphite
  • 4 days Hunter Biden Helped China Gain Control of Cobalt Mines in Africa

Breaking News:

SPR Tender Attracts Two Foreign Bidders

Uranium Price Building On Gains

The uranium market had a lot going for it at the start of 2014, including the prospects of a Japanese nuclear reactor restart that now, at least partially seems to be close.

The end of the Russia-US megatons to megawatts program last August, eliminating a huge source of supply was also supposed to support the market that had been in a long-term decline since hitting all-time highs of $135 in 2007 and was devastated after the Fukushima disaster in 2011.

China's plans to approve six to eight plants a year through 2020 – part of its war on pollution – is still being worked at but so far the uranium price has shrugged all good indicators sliding to $28 a pound earlier this year, levels last seen in 2005.

That dragged the long term price, where most uranium business is conducted, down to $44, a six year low, where it continues to languish.

Haywood Securities in a new research note reports that the turnaround in the spot U3O8 price is gaining momentum, jumping 4.3% to $30 a pound this week.

The broker's average price tracked by the Vancouver-based independent investment dealer with $5 billion under management has enjoyed eight straight session gains, adding nearly 8% to $30.88.

Volumes in the spot market remain subdued however, and Haywood points out that purchases over the last three quarters appear to be entirely discretionary.

After an early 2014 run-up uranium stocks entered a sharp correction in March, but with many shares in the sector now lagging the spot price Haywood says it's "watching equities to stabilize and perhaps find some soft support."

Way to early to for uranium stock investors to rejoice, but at least a bottom seems to be forming.

By Frik Els of Mining.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News