Commodities | Nov 01 2011
By Greg Peel
Early last week uranium market participants gather in Arizona for a Uranium Fuel Seminar and such conferences have a tendency to remove players from the market. Industry consultant TradeTech implies this was the case when a seller entered the spot market early in the week and found no one much home, sending the spot price down US75c to US$51.25/lb.
The conference was over by later in the week and while both sides of the price spread remain thin, the spot price recovered to be unchanged at US$52.00/lb where TradeTech has again settled its indicative price. Seven transactions totalling 900,000lbs made for a slightly higher volume week than recent times with the usual suspects on either side of the deals.
It would appear for the moment spot uranium is going nowhere much either side of its US$50/lb support level until more significant interest can return to the market.
Term prices remain unchanged at $55/lb (medium) and $63/lb (long).
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