Commodities | Aug 04 2008
By Rudi Filapek-Vandyck
If anything, industry consultant TradeTech’s monthly update on the uranium market proves that history can be a guide during most of the times, but it cannot provide any certainties.
Normally, the spot uranium market goes into hibernation during the Northern Hemisphere’s summer period, but not this year. TradeTech has counted 16 transactions being concluded in July, representing a total volume of 2.5 million pounds in uranium oxide (U3O8) equivalent. This follows on from June’s 15 transactions and a total volume of 2 million pounds.
The consultant notes that prices for deals concluded progressively increased throughout the past month. Towards the end of July prices seem to have stalled, for now, at around US$64.50 per pound. In essence this means the spot price has remained unchanged over the week past from the previous week.
Fellow consultant Ux Consulting too left its weekly spot price indicator unchanged at US$64.50/lb last week. TradeTech did make the decision to lower its longer term price indicator, to US$80/lb from US$85, and this has brought both TradeTech and UxC on one line again for both the weekly spot price indicator asthe longer term price benchmark.
