After a few tumultuous weeks the uranium spot market has steadied, booking only a minor decline last week.
The large gold purchase from the Reserve Bank of India has sparked all sorts of speculation.
A recent visit to China leads Barclays Capital to suggest supply may be a short-term issue in that country’s metal markets.
Both TradeTech and UxC raised their weekly spot price indicators for the week past.
Industry analyst MEPS has forecast a 9.5% fall in global steel output in 2009 as the economic downturn has reduced demand.
The uranium spot price has continued to climb on supply speculation due to the issues at BHP’s Olympic Dam.
Both TradeTech and UxC raised their weekly U3O8 spot price indicators this week.
Spot uranium continues to rise, inspired by problems at BHP’s Olympic Dam mine.
The gold price is not enjoying any support from the Indian gift season.
Fellow industry consultant UxC went one little step further than TradeTech this week in lifting the U3O8 spot price benchmark.