Commodities | Jun 08 2010
By Rudi Filapek-Vandyck
Two transactions have been registered by industry consultant TradeTech in the uranium spot market during the week ending on Friday. Both transactions combined totalled less than 600,000 pounds U3O8 equivalent and the prices agreed to by buyers and sellers must have been close to US$40.75/lb as TradeTech decided to leave its weekly spot price indicator unchanged.
The consultant remarks overall demand remains highly discretionary and both sellers as buyers seem somewhat reluctant to genuinely commit.
TradeTech's spot price indicator at US$40.75/lb compares with the consultant's equally unchanged mid-term price indicator of US$50/lb and its equally unchanged longer-term price benchmark of US$60/lb.
Given the carnage elsewhere in the commodities complex, it's probably a relief to participants in the uranium sector that prices are holding up.
