"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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