Commodities | Mar 18 2008
By Rudi Filapek-Vandyck
At times like these it’s probably best to take all positive news -no matter how small- with a big smile: spot uranium may well have failed to climb above US$75/lb over the past week, but maybe it is better to zoom in on the fact that the price did not decline and remained steady at US$74/lb (unlike so many other prices of commodities)?
Industry consultant TradeTech reports there was one transaction concluded during the week with most apparent demand in the market being of a discretionary nature, signaling any purchases are done on a conservative basis with no rush involved. The consultant’s long term price indicator equally remained unchanged at US$95/lb – more good news!
TradeTech believes five buyers are currently scanning the market for an opportunity and three of them are believed to be utilities. One new buyer is expected to enter the market this week. Only one of these six is what TradeTech would describe a “have to” buyer.
