Commodities | Oct 03 2007
By Rudi Filapek-Vandyck
As could be expected, industry consultant Ux Consulting has cut its weekly U3O8 spot price indicator by US$10 to US$75/lb this week. Earlier TradeTech, the other industry consultant with its own weekly spot price indicator, cut its spot price to US$75/lb from US$85/lb the previous week.
Both consultants had flagged last month that spot uranium prices may fall further as the outcome from a large public auction by the US Department of Energy (DOE) was unlikely to attract aggressive bidding. The DOE announced the outcome of its auction on Friday.
(See also our story Spot Uranium Tumbles To US$75/lb, Commodities, Tuesday October 2).