Over the years the u price has gone from $8 to $138 then back to $8 then now to $29. There is/was a large amount of inventory held by utilities, etc due to over purchasing caused by cancellations of new power plants due to fukashima and the fear of uranium shortage when the Russians withdrew their secondary supplies (ex nuke subs) from the global u market. If the held inventory was still excessive imo the u price would still be stuck at $8. Now that new power plants are being built and planned especially in China imo any held inventories would now be catagorized as strategic and there should be new contracts signed soon to cover global power plant u supplies going forward. imo no u supplier would even consider a supply contract under $80. Considering the massive new u power plant build by China which will require considerable world u production this may create u shortage which might drive up uranium price well north of a $100 ? .
PDN Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held
