Commodities | Mar 26 2007
By Rudi Filapek-Vandyck
Contrary to some market expectations buyers proved rather active this week, no longer holding off on signing contracts that saw spot uranium climb to US$95/lb according to TradeTech, one of two US based industry consultants to set weekly spot prices for yellow cake/uranium oxide.
This increases chances that U3O8 prices will be written in three digits from next week onwards significantly. As reported previously, privately owned Mestena Uranium, based in Corpus Christi, Texas, is organising its monthly auction of 100,000 pounds this week. These auctions have often caused further upward price swings in the recent past.
Ux Consulting, the other one who sets weekly spot prices, published a price of US$91/lb during the week.
