Commodities | Feb 23 2010
By Rudi Filapek-Vandyck
Spot uranium prices continue their descent as buyers seem in no hurry and with sellers offering ever more aggressive price cuts to get deals done. The past week, ending Friday, saw a few deals being concluded, but also a further cut to TradeTech's weekly price benchmark.
TradeTech's spot price indicator has now fallen to US$41.75/lb, US25c lower than at the end of the previous week.
The industry consultant remains adamant in its market assessment: buyers are under no pressure to buy, and thus the willingness by sellers to get rid of their product at ever lower prices continues to dominate the market at this stage.
TradeTech's mid-term price indicator has remained unchanged at US$50/lb, its longer term price indicator has remained unchanged at US$60/lb.
See also our story from last week “Spot Uranium Remains Under Pressure”, published on February 16.
