Urán v roku 2007

Two phenomena summed up uranium in 2007: market volatility and the proverbial nuclear renaissance, the latter with its own set of triumphs and challenges.

Some world leaders signed agreements and kissed babies; others shook fists and worried about safety and security as uranium returned to mainstream discourse in a resource-hungry world.

The biggest story right through the summer was the triumphant rise of uranium's spot price. The metal entered 2007 worth about $60 a pound U3O8. Within months, its price was breaking records and soaring to new highs amid concerns that demand was outperforming supply so much the latter should be embarrassed. Rounding out the first half of the year at $138 a pound after a meteoric rise, yellowcake seemed unstoppable.

But then, cracks began appearing beneath the veneer. Frenzied stock activity had pushed hype beyond substance and the rise was not to last. Uranium tumbled through the fall on a major price correction. After all, there were still no major new discoveries and come late fall, speculators and hedge funds fled in herds. The price smashed to a $75 a pound just as leaves tumbled onto the sopping streets of Vancouver.

Now get your German dictionaries and find a suitable English equivalent for Schadenfreude. Winter supply woes pepped up uranium investors and the metal gained some ground as positive sentiment returned... slowly and cautiously. Today's level of $90 a pound U3O8 is far below this year's $138-high, but it already made a nice comeback since an October low of $75. And, despite this year's volatility, uranium's fundamentals remain strong thanks to the imminent expansion of the global nuclear industry. More than 300 nuclear reactors are now planned and proposed around the world. And equities in general are looking very attractive in a time faintly scented with inflation.

Zdroj: uraniumseek.com

04.01.2008