Commodities | Aug 30 2011
By Greg Peel
Buyers may have been eager to pile in back in March when spot uranium fell below US$50/lb in the initial Fukushima plunge, but having drifted to under that level once more on general nuclear energy uncertainty, there was no sign of such interest emerging last week.
Volumes picked up from the previous week's levels, industry consultant TradeTech notes, with a total of one million pounds of U3O8 equivalent changing hands in five transactions. However each deal saw successively lower pricing as the sellers pushed to find buying interest, TradeTech notes.
The result is a US$1.05 fall in the consultant's weekly spot price indicator to US$48.85/lb. Some buying interest did nevertheless emerge late in the week for settlement this week for 250,000lbs.
There were no new deals in the term markets and no change to prices.
