Commodities | Aug 10 2010
By Rudi Filapek-Vandyck
Despite widespread scepticism about the sustainability of last month's increase in overall spot market activity, the spot price of U3O8 has added another US75c to US$46/lb at industry consultant TradeTech.
Amidst a seemingly buoyant environment, TradeTech reports new entrants, increased demand and relatively busy buyers accepting gradually higher purchase prices as the week ending on Friday progressed.
A total in excess of 1 million pounds in U3O8 equivalent changed hands through seven concluded deals, reports the consultant. With two US utilities entering the market for a combined 500,000 pounds in U3O8 equivalent, it would seem the level of overall market activity is not about to evaporate anytime soon.
TradeTech's weekly spot price indicator has now caught up with peer Ux Consulting's which raised its own weekly spot price indicator to US$46/lb two weeks ago already, but then left it unchanged last week.
TradeTech has left its mid-term price indicator unchanged at US$50/lb while its long-term indicator has remained steady at US$60/lb.
