Commodities | Nov 25 2009
By Rudi Filapek-Vandyck
At least the falls in spot U3O8 prices come in small numbers these days.That’s the good news behind industry consultant TradeTech’s latest market update with the consultant’s spot price indicator dropping another US50c to US$43/lb.
During the preceding week (ending Friday) the fall, as recorded by TradeTech, had measured no less than US250c, though it has to be noted that peer Ux Consulting only dropped its own weekly price indicator for that week to US$44/lb compared with TradeTech’s US$43.50 at the time.
In last week’s market update, TradeTech reports five transactions in the spot market had been recorded, with sellers ostensibly turning less aggressive in their price discounting, but buyers coming to the party regardless. The five deals recorded saw some 600,000 pounds of U3O8 equivalent change ownership last week.
TradeTech’s medium term price indicator has remained unchanged at US$55/lb while its longer term price benchmark continues to print US$65/lb.
