Jzou - don't confuse the spot price with the long term contract price - as I suspect many traders/investors have been doing. The spot market accounts for only 5% or less of the total uranium transactions, and is much more discretionary. Most installations that require ongoing uranium supply are contracted to offtake at long term contract prices. These are currently at about $US61 or more, and widely expected to rise over the next year or two.
The spot market often has NO transactions in any given recording period, such as the last one. It is also the market used by a couple of uranium specualtor funds.
Nothing at all to do with the long term price.
where is the bottom, page-7
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