Wall St Catches Uranium Mania
April 25th, 2007 by Stephen RomanAfter watching Uranium move from $40 to over $110 in the past year Goldman and others are starting to dediciate resources to the volatile metal. Soon even more people will be in the game with the introduction of uranium futures.
It is not currently traded on an exchange and its price is hard to determine because transactions are private and infrequent.
The price fluctuations have frustrated nuclear power plant operators, who complain that the current spot market is inefficient and provides little price transparency.
The Nymex hopes to capitalize on the desire for a more institutionalized uranium market as well as the appetite in the hedge fund community for more investment products.
The newly created uranium futures contract will begin trading on the Nymex’s electronic system on May 7, according to the exchange’s VP of marketing Randy Warsager.
Posted: April 25th, 2007 under Commodities, General, uranium.
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