US bank Goldman Sachs Group Inc is putting its uranium trading business up for sale, a source familiar with the matter said on Friday. The move comes as other US banks, including J. P Morgan Chase & Co and Morgan Stanley, look to exit physical commodity trading in the wake of increased government scrutiny and forecasts for tepid demand for certain commodities.
Goldman's decision was first reported by industry publication SparkSpread.
In the United States, power generators, including those who buy uranium to fuel nuclear reactors, are suffering from weak power prices, low growth in demand for electricity, and increased environmental regulations.
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