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Uranium prices softer in short term Posted: Thu, 15 May 2008 [miningmx.com] -- THE uranium price will be flat to soft over the next 12 to 18 months before picking up again in three to five years, said Uranium One acting CEO Jean Nortier. Uranium One received an average $79/lb for its sale during the March quarter of 283,300 lb of U3O8. This is against an average spot price of $74/lb for the period, Nortier told a conference call on the company's results. "We see prices as neutral to soft over the next 18 months," he said. The uranium price is currently at $60/lb, according to the Ux Consulting Company website, showing a steady downward trend from around $94 in November. The price hit a record above $130 in July 2007. "We do anticipate the uranium market lifting again over the next three to five year period," he said. "The reason I'm giving a slightly longer terms is that we are bullish on the uranium price." "On the supply side we see the risk of supply shocks that drove the phenomenal increase during 2006 and 2007 still being a risk in the uranium market," he said. Click Here to subscribe to our daily newsletter
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