So we will have the uranium miners, the uranium (nearly) miners, the Russians, the speculators and the utilities. They will make the market. So:
1. The uranium miners have already committed forward most of their U at low prices
2. The uranium (nearly) miners are few (PDN) and won't have a lot of production.
3. The Russians would like to keep their U.
4. The Utilities will want U but will hesitate over the price
5. The speculators, well they will speculate.
So.. my guess is that unless the hedge funds/speculators get into this market in a big way, it will drift. Now that's a theory, lets see the brutal facts when the markets open :o)
Max
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