Commodities | Jun 22 2010
By Rudi Filapek-Vandyck
The spot uranium market has gone into its traditional Northern Hemisphere summer lull, suggests industry consultant TradeTech. The week ending on Friday saw two deals being concluded in the spot market, good for some 200,000 pounds in U3O8 equivalent changing ownership, but the consultant adds both deals were actually negotiated during the previous week.
This suggests that buyers and sellers have gone on non-active.
TradeTech does highlight it would appear the gap between sellers' expectations and buyers' offers seems to have narrowed to US$0.50-0.75 but neither side seems to be motivated to make that final step to get a deal done at this point in time.
TradeTech has kept its weekly spot price benchmark unchanged at US$40.75/lb. Its mid-term price indicator remains at US$50/lb, the longer term indicator remains at US$60/lb.
