"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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Last
11.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $243.7M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.0¢ | 11.5¢ | $453.4K | 3.863M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 1904549 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 2863206 | 29 |
View Market Depth
| Last trade - 16.10pm 10/05/2024 (20 minute delay) ? |
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Last
11.8¢ |
Change
0.000 ( 4.44 %) |
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| Open | High | Low | Volume | ||
| 11.8¢ | 11.8¢ | 11.5¢ | 2126532 | ||
| Last updated 15.59pm 10/05/2024 ? | |||||
| PEN (ASX) Chart |