Commodities | Jul 19 2011
By Greg Peel
The spot uranium price rebounded somewhat the week before last once a big sell order cleared the market. But demand remains highly discretionary, reports industry consultant TradeTech, and sellers were more willing to lower prices last week.
There were five transactions concluded in the spot market last week totalling 500,000 lbs of U3O8 equivalent, and by week's end TradeTech had dropped its weekly spot indicator by US50c to US$53.25/lb.
The majority of buyers expects the spot market to remain flat or trend slightly lower in coming weeks, TradeTech reports, and are thus extremely reticent to commit.
There were no new deals in the term market.
