PRZOOM - /newswire/ -
Sarasota, FL, United States, 2007/04/01 - TradeTech’s Nuclear Market Review forecasts a spot uranium price outlook for April at the high end of US$110/pound. Tuesday’s Mestena uranium auction should set the pace for April.
In the month end report of TradeTech’s Nuclear Market Review (NMR), the consulting company forecast the upper end of the anticipated uranium price could reach US$110/pound during April. Tuesday’s spot uranium sealed-bid auction could set the pace for the entire month. NMR editor Treva Klingbiel wrote, ““Buyers are once again expected to compete aggressively for the material. Any material offered at fixed price is highly sought after by potential buyers.”
Active demand for spot uranium continues to outpace active supply by 2.5 times, according to the nuclear utility trade magazine which closely monitors development in the nuclear fuel sector. Fourteen U.S. and non-U.S. utilities are now actively seeking or evaluating offers for more than 40 million pounds of U3O8 equivalent, for delivery as early this year.
Nuclear energy provides about 16 percent of global electricity needs and about 20 percent of electricity needs in the United States. The scarcity of available uranium inventory has caused prices to soar over the past six years by more than 1100 percent. The spot uranium price has more than doubled over the past year and continues to rise strongly in 2007. According to industry watchers, the uranium supply shortage could soon reach a ‘crisis’ stage.
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 by visiting: bookstore.stockinterview.com or Amazon by visiting amazon.com The publication is now offered in U.S. bookstores. Please check with your local bookseller for availability.
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