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Spot Uranium Retreats

Commodities | May 26 2009

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By Rudi Filapek-Vandyck

Three weeks of frenzied buying and selling on the uranium spot market have been followed by a quiet week wherein not one single deal was recorded by industry consultant TradeTech.

The consultant reports it would seem the market has found some kind of a new equilibrium. The result is that continuous increases for the spot price have come to a halt. TradeTech lowered its weekly price benchmark by US$1 to US$50/lb.

The consultant’s long term price benchmark has remained unchanged at US$69/lb.

It was only weeks ago the spot U3O8 price had fallen to US$40/lb.

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