And the Real U3O8 Spot Price Is..?

Array
(
    [0] => Array
        (
        )

    [1] => Array
        (
        )

)

By Rudi Filapek-Vandyck

It is not the first time industry consultants Ux Consulting and TradeTech have been quoting different U3O8 weekly spot prices as both update the market on different days in each week (Monday and Friday respectively). But this week may well be the first time ever that one of both has refused to follow the other one while updating its weekly spot price indicator.

On Friday two weeks ago TradeTech raised its weekly spot price to US$122/lb, which was US$2/lb higher than the previously quoted US$120/lb. That figure was overtaken by Ux the next Monday (last week) as the new spot price was quoted as being US$125/lb, up US$5/lb from the previous week.

However, TradeTech stuck to its previous quote of US$122/lb when updating the market on Friday. Ux simply repeated its US$125/lb spot price quote on Monday.

This week may well take all ambiguity out of the market with Mestena’s monthly auction of 100,000 pounds of yellow cake scheduled to close today or tomorrow. Another auction by an unnamed hedge fund is requiring bids by June 1st.

As reported previously by FNArena, the fund is believed to have invited bids for 200,000 lb U3O8 and 100 metric tons UF6 (uranium hexafluoride).

Click to view our Glossary of Financial Terms