article 3 months old

Spot Uranium At US$74/lb

Commodities | Mar 11 2008

By Rudi Filapek-Vandyck

Industry consultant TradeTech has followed the lead by colleague Ux Consulting and upped its weekly spot price indicator for U3O8 by US$1 to US$74/lb. This is far from surprising given there only was one deal concluded in the spot market last week.

However, TradeTech believes there is reason for optimism as two utilities have entered the market, making enquiries without making too much noise about it at the same time. This would imply buyers interest is growing, while sellers have continued to raise their prices, raising the odds for further recovery of the spot uranium price, TradeTech suggests.

TradeTech’s long term price indicator has remained unchanged at US$95/lb.

To share this story on social media platforms, click on the symbols below.

Click to view our Glossary of Financial Terms

Australian investors stay informed with FNArena – your trusted source for Australian financial news. We deliver expert analysis, daily updates on the ASX and commodity markets, and deep insights into companies on the ASX200 and ASX300, and beyond. Whether you're seeking a reliable financial newsletter or comprehensive finance news and detailed insights, FNArena offers unmatched coverage of the stock market news that matters. As a leading financial online newspaper, we help you stay ahead in the fast-moving world of Australian finance news.