Uranium Prices Resume Rally: "Uranium prices climbed in the week through March 6, resuming a rally that started back in December but then ran into resistance in mid-February. Prices added $3.25 over the week to reach $25.50.
Uranium prices climbed nearly 50% from their December low through February with the rally gaining steam in January after the world’s largest uranium producer, Kazakstan, announced a significant supply cutback. In mid-February, this rally ended with prices declining. Analysts figured this was the end of the recovery rally, but the market surprised and spot prices once again trekked higher. Supporting the downbeat expectation was the fact that the recent recovery rally was driven by supply-side adjustments alone with the near-term demand picture looking bleak."
'via Blog this'
Uranium prices climbed nearly 50% from their December low through February with the rally gaining steam in January after the world’s largest uranium producer, Kazakstan, announced a significant supply cutback. In mid-February, this rally ended with prices declining. Analysts figured this was the end of the recovery rally, but the market surprised and spot prices once again trekked higher. Supporting the downbeat expectation was the fact that the recent recovery rally was driven by supply-side adjustments alone with the near-term demand picture looking bleak."
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