Commodities | Sep 09 2008
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By Rudi Filapek-Vandyck
Demand for uranium appears to be picking up, reports industry consultant TradeTech. However, whatever the reason, and whoever is enquiring about possibly buying some yellow cake for the future, most of the demand in the market is discretionary and highly price sensitive.
You probably already guessed it: no deals were actually concluded in the U3O8 (uranium oxide) spot market.
TradeTech’s spot price has now remained at US$64.50/lb for the ninth week in a row. The consultant’s long term price benchmark has remained at US$80/lb, with TradeTech reporting the conclusion of two deals in this market over the week past.
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