Uranium!
Oil hits $80/brl, time to look at other energy sources. How about uranium? It's taken a huge hit and likely shaken out the speculators. Here are some interesting stats:
Global demand was 66,000 tons in 2004.
Only 40,000 tons produced by mines, the other 26K comes from old Russian nuclear stockpiles that will run out in 2013.
441 nuclear reactors worldwide with plans for 180 more.
China demand - 3 million this year, 10 million 2010, 18 million 2020
Good stuff! There's a uranium future trading on the NYMEX but its ultra thin [Hint: watch for a big volume spike for a bottom signal] I'm looking at CCJ long dated options.
Oil hits $80/brl, time to look at other energy sources. How about uranium? It's taken a huge hit and likely shaken out the speculators. Here are some interesting stats:
Global demand was 66,000 tons in 2004.
Only 40,000 tons produced by mines, the other 26K comes from old Russian nuclear stockpiles that will run out in 2013.
441 nuclear reactors worldwide with plans for 180 more.
China demand - 3 million this year, 10 million 2010, 18 million 2020
Good stuff! There's a uranium future trading on the NYMEX but its ultra thin [Hint: watch for a big volume spike for a bottom signal] I'm looking at CCJ long dated options.
posted by market operator at 9:04 AM
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