Commodities | May 12 2010
By Rudi Filapek-Vandyck
The spot uranium seems to enjoy increased activity this month with industry consultant TradeTech reporting new demand has entered spot and longer term markets. However, supply has been on the increase as well and this explains why TradeTech's spot price benchmark has suffered another price decline in the week ending Friday.
On TradeTech's asssessment, the new spot price should be around US$41.25/lb, or half a dollar below the price at the end of April. The consultant's two other price benchmarks have remained unchanged: US$50/lb for mid-term contracts and US$60/lb for longer term contracts.
TradeTech registered five successful spot market deals, representing a combined one million pounds U3O8 equivalent.
