NewswireToday - /newswire/ -
Sarasota, FL, United States, 2007/03/11 - According to TradeTech’s Nuclear Market Review, the consulting service raised its weekly uranium spot price indicator to US$90/pound in light of strong bidding and the force majeure announced by uranium miner ERA on March 7th.
Wednesday’s force majeure announcement by the world’s third largest uranium producer sent tremors through the nuclear utility industry this past week, according to TradeTech’s weekly Nuclear Market Review trade magazine. As a result of the increased response to a higher uranium price, industry consulting service TradeTech raised its weekly spot price indicator by $5 to US$90/pound.
“Even before this Wednesday’s announcement, there were indications that the market price had risen,” wrote Editor Treva Klingbiel in the March 9th edition of Nuclear Market Review. Klingbiel warned, “Doubling the active demand from the addition of ERA’s customers would obviously have an impact on uranium prices.”
The magazine reported, “It seems clear the market is rapidly headed to the triple-digit level.” An evident conclusion was also asserted in this week’s magazine, “The uranium market must learn to deal for a while with the uncertainty of production schedules for Ranger.”
Stockinterview.com is an online news service, which provides investigative reporting, editorial, analysis and provocative commentary of the nuclear fuel cycle, uranium mining, nuclear power, energy and the environment, biotechnology research and the natural resource industry. StockInterview.com is now the most popular website for uranium mining stocks as a result of its best-selling publication, “Investing in the Great Uranium Bull Market: A Practical Investor’s Guide to Uranium Stocks.”
The 304-page trade softcover edition of “Investing in the Great Uranium Bull Market,” is now available online or Amazon by visiting amazon.com
TradeTech, and its predecessor companies-NUEXCO Information Services, CONCORD Information Services, and CONCORD Trading Company, has supported the domestic nuclear fuel cycle (uranium) industry for more than 35 years, and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic and political factors affecting this industry. TradeTech provides expert market consulting, participates in the buying and selling of uranium products and services, and maintains an extensive information database on these industries.
After publishing the weekly uranium spot price indicator in the Nuclear Market Review magazine every Friday, TradeTech publishes the price indicator on the consulting service's website at uranium.info