Short term trendlines have fallen below long term trendlines for uranium stocks around the globe. Meanwhile, spot prices continue falling.
Still no joy for uranium enthusiasts as sellers continue to dominate the spot U3O8 market.
Nothing new happened in the spot U3O8 market with few deals forcing the spot price down by another notch.
Uranium prices dropped more than 5% in January, with the spot price now back to March 2009 levels.
Paladin’s production and sales in the December quarter fell short of broker expectations and so earnings have been revised down, but some still see long-term value in the stock.
The uranium market continues to slide, with even below market offers unable to attract buyers.
BHP Billiton’s quarterly production report was something of a mixed bag.
The U3O8 spot price has tumbled more than 1.5%, attracting new demand, reports TradeTech.
Energy Resources of Australia delivered a mixed December quarter production report with lower grades but higher realised prices and sales.
The spot uranium market is only slowly coming to life into the new calendar year.