Uranium prices up 10% at auction
Published December 19th, 2006
Uranium prices, already up more than 800 percent this decade, could climb another $7 to over $70 a pound following an auction last week, sources familiar with the auction said Monday.
Mestena Uranium LLC, a small Texas-based uranium producer, held an auction for uranium that ended on Friday. Sources familiar with the auction said the winning bid came in about $7 over the current spot price of $65.50 per pound posted by Ux Consulting Co LLC.
“The bid surpassed market expectations and there were even more bidders than previous auctions,” said Kevin Smith, Director of Nuclear Fuel Markets at Evolution Markets LLC, a White Plains, New York-based brokerage firm.
Even before the Mestena auction, there were indications that uranium prices would climb, said Eric Webb of Ux Consulting, of Roswell Georgia, which provides uranium prices and consulting services.
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