Commodities | Jun 07 2011
By Greg Peel
As noted in Nuclear Ist Verboten last week, May ended with the uranium spot price down US50c to US$56.50/lb from its earlier price but US$1.50 higher than the April close. The market was left to contemplate the implications of Germany's post-Fukushima decision to phase out nuclear energy in the country by 2022.
There was very little activity in the week with only three transactions totalling 375,000/lbs of U3O8 equivalent noted by industry consultant TradeTech, and the spot price remained at the US$56.50/lb level. No new business was transacted in the term markets.
The week was impacted by the US Memorial Day holiday on the Monday, TradeTech notes, and also by preparations for this week's World Nuclear Fuel Market conference in Spain which had market participants in transit.
In a last minute update, released shortly before the publication of this story, TradeTech reports its spot price has fallen US25c to US$56.25/lb.
