re: heading all the way to $20 Event
The Ux Weekly's spot price was unchanged $41.00/lb while the long-term month
end U3O8e price also remained unchanged at $42.00/lb.
Investment Opinion
- Spot Market: The Ux Weekly conveyed that spot market activity remained
relatively light, though indications continue to point to upward price
pressure. The market is continuing to digest the Cigar Lake production delay
(see Cameco comment on April 10th) and how this will influence pricing going
forward. The limited activity has resulted in no change to the $41.00/lb spot
price.
- Term Market: The Ux Weekly reported that term market activity continues
to be moderately high, with over 44 million lbs U3O8e currently being sought in
the market by various utilities.
- Industry Meetings Focus on Eastern Markets: Two significant industry
meetings were held last week in Hong Kong and Russia. At the WNA/NEI World
Nuclear Fuel Cycle in Hong Kong, speakers described their country's anticipated
plans for nuclear power growth with a focus on Asian expansion. Russia's plans
involve the construction of 40 new reactors by 2030. India currently has 7
reactors under construction, while China plans to add 30 new reactors in the
next 15 years and South Korea is planning 8 new reactors by 2017. Underlying
this significant expansion are potential fuel supply issues that could limit
growth.
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- re: heading all the way to $20
re: heading all the way to $20, page-13
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