article 3 months old

Still No Action In Uranium

Commodities | Feb 21 2012

By Greg Peel

In what is becoming a painfully slow spot uranium market, last week saw only one transaction completed totalling a mere 75,000lbs of U3O8 equivalent, industry consultant Trade Tech reports. Nor were there any new transactions in the term market. TradeTech's indicative prices remain at US$52.00/lb (spot), US$54.50lb (medium term) and US$61.00/lb (long term).

The same problem has exited in spot uranium from some weeks now, again as explained in Uranium Mismatch Continues To Frustrate.

TradeTech does report, however, that a utility seeking over 800,000lbs U3O8 for delivery in Europe has now short-listed suppliers ahead of settling a deal. Several other utilities are contemplating entering the market in coming weeks for mid or longer term delivery, the consultant notes.

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