Commodities | Oct 18 2011
By Greg Peel
This weekly report noted last week the US Energy Commission had for sale an inventory of UF6 which it is offering below current spot pricing. Last week, reports industry consultant TradeTech, a discretionary buyer was in the market seeking material for delivery in Europe where prices on offer are sitting US25-50c above prices elsewhere.
The ongoing disconnect in both form and location currently dominates a global uranium market which is otherwise deathly quiet at present. TradeTech reports a mere three transactions in the spot market totalling 300,000lbs of U3O8 equivalent last week. The gap between buyers and sellers is closing, nevertheless, with buyers becoming slightly more willing.
TradeTech has lifted its spot price indicator by US35c to US$52.85/lb.
