GREY:DTEMF - Post by User
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KEMA1on Jul 01, 2008 8:32pm
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Post# 15248312
U803 TURNS UP!
U803 TURNS UP!
Tuesday, July 1, 2008
By Luke Brocki - Exclusive to UraniumInvestingNews.com and U3O8.biz
The TSX was dead to the world on Tuesday as Canada celebrated 141 years as a country, but surprisingly, spot uranium prices stirred from their slumber for the first time in 2008. Price publisher Tradetech raised its spot estimate US$1 to US$58, after reporting that market momentum appears to be shifting. Rival price publisher Ux Consulting followed suit a few days later, raising its price US$2 to US$59 a pound U3O8.
Tradetech reported six transactions in the spot uranium market last week, with everyone from traders and investors to producers and utilities looking to buy the metal. When this coupled with a decline of aggressive sellers looking to unload the metal, a recipe for higher prices was born.
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