RE:RE:RE:Nymex uranium futuresI see that the spot price inched up a bit more yesterday. It's now at $21.13, up $0.20 on the day.
Pretty flat for the last 5 trading days. Let's see what the rest of the week brings.
Gigantapithic wrote: Id love to see $45... but on the fun / optimistic side fast moves aren't out of the question. May 1, 2010 spot was $40.75, January 1st 2011 (8 months later) spot was at $72.63, that's a 78% run in 8 months.
Long term went from $59 to $71.50.
Usual market forces post mine closures and growing demand plus CCO to buy 6-8 million lbs on the spot could make a pretty significant change to the spot price.
The bears say demand isn't growing, there's plenty of supply, and production can be ramped up more quickly (and all the uranium companies mine's are years away when things will be low again...) Or whatever else they say.
If you're a bull the former makes sense, if you're a bear, the latter.
dhirubhaiambani wrote:
sure but not for 45$ or so by Dec 18, but I would think 26 to 28 $ by this dec.