"Uranium miners slid after a heavy fall on the spot market overnight. The spot price of uranium tumbled 8.46% to US$84 a pound. The sell-off followed reports of a state-owned Uzbekistan producer negotiating with a Chinese state-run producer to develop two new mines. Uzbekistan's president has set a target of doubling national uranium production by 2030. In the US, Cameco dropped 5.74%, NexGen Energy 3.62% and Uranium Energy 3.71%."
This is a quote from highlandlad's daily post on the state of the markets that he posts in the ASX Day-Trading forum.
I think there is still some room to move downwards as more production comes online and the big producers iron out issues to bring mines back online.
"Uranium miners slid after a heavy fall on the spot market...
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10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $334.3M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $1.047M | 10.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 70 | 9842754 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 4002799 | 32 |
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| PEN (ASX) Chart |