Commodities | Jun 01 2010
By Chris Shaw
Spot uranium has given up some recent gains, leading industry consultant TradeTech to reduce its indicative spot market price another US25c last week to at US$40.50 per pound.
The fall reflects aggressive attempts by sellers to motivate buying interest, which is coming via material being offered at lower prices.
The spot uranium market was relatively active with six transactions during the week, these totalling more than 700,000 pounds of uranium equivalent. Prices for these transactions were at or very near TradeTech's spot price indicator.
There were no transactions last week in either the term uranium market or the enrichment market, while TradeTech notes there was only one transaction in the conversation market.
TradeTech's mid-term price indicator for uranium stands at US$50 per pound, while its long-term price indicator currently stands at US$60.00 per pound. Both prices are unchanged.
