New York Mercantile Exchange, Ux Consulting to launch uranium futures
By Myra P. Saefong, MarketWatch
Last Update: 12:56 PM ET Apr 27, 2007
SAN FRANCISCO (MarketWatch) — It’s hard to ignore any commodity that’s seen a more than 1,000% price climb over the course of five years, especially one that’s about to be traded on a futures exchange for the first time.
Weekly spot prices for uranium stood at $113 a pound on April 23 — that’s an 11-fold increase from the $10 it cost in 2002, according to data from Ux Consulting Co. See the Web site for the latest price.
It’s no wonder that the uranium industry and potential investors are all abuzz following an agreement between Ux Consulting and the New York Mercantile Exchange, a unit of Nymex Holdings (NMX:129.69, +0.68, +0.5% ) , announced last week to introduce on- and off-exchange traded uranium futures products on May 6.
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http://www.marketwatch.com/news/story/uraniums-set-make-waves-futures/story.aspx?guid=%7B04534340%2D989E%2D43ED%2DB93D%2D1CEC856F39BF%7D
