Commodities | Jun 16 2009
By Rudi Filapek-Vandyck
Spot uranium has enjoyed another rise over the past week with industry consultant TradeTech upping its weekly spot price indicator by US$2 to US$52/lb. The consultant recorded three transactions during the week (ending on Friday) for a total volume of some 400,000 pounds of U3O8 equivalent.
TradeTech also reports the first deal concluded in the week actually implied the previous week’s price benchmark of US$50/lb was likely to fall, but the two subsequent deals were concluded at higher prices. According to the consultant, buying interest on the open spot market remains widely dispersed with utilities, traders, and producers all “actively evaluating offers”.
On the supply side, reports TradeTech, it would appear one seller is offering uranium priced below the new Spot Price Indicator, but according to the consultant there are a number of complicating factors involved with form and origin that restrict the marketability of this material.
There appears to be increased buyer interest in the longer term market, but no deals were concluded last week. TradeTech’s longer term price benchmark remains at US$65/lb.
