31.07.2008 - Uranium prices start to rebound, copper demand increasing as banner year unfolds for potash, sulphur
From mineweb.com: Scotiabank economist Patricia Mohr Tuesday declared that "a banner year" is unfolding for Western Canadian potash and sulphur producers. In her analysis, Mohr said that spot uranium prices appear to be rallying from a lower of only US$57 per pound in mid-June. "However, term contract prices (before escalation) fell from US$90 to US$80 in late June. Price retreated earlier this year alongside lower ‘uncovered utility requirements', though discretionary, off-market buying to take advantage of bargain prices has been substantial." Meanwhile, sporadic strikes and the threat of a national strike in Peru discouraged traders from shorting the copper markets "in view of very low exchange stocks," according to Mohr.......Full Article Source
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