Commodities | May 07 2008
By Rudi Filapek-Vandyck
Such are the vagaries of a small spot market under pressure that hot on the heels of one leading industry consultant suggesting the market may have found a bottom, another one has taken off a further US$2 and lowered its own weekly spot price indicator to US$63/lb.
Ux Consulting’s newly revised spot price indicator for the most popular form of yellow cake, U3O8, is now US$2 below fellow consultant TradeTech’s weekly price benchmark of US$65/lb.
Last week both consultants lowered their longer term price benchmarks to US$90 from US$95/lb. It was the first change made in eleven month for the longer term market.
The weekly spot price has now fallen to US$63 from US$136/lb since last year on UxC’s figures. On TradeTech’s figures the fall thus far has been from US$138 to US$65/lb.
