Weekly Reports | Oct 31 2017
Buyers of uranium remain firm in their view there will be no market recovery before year end.
- Buyers in no hurry
- Same cannot be said for sellers
- Demand/supply news mixed
By Greg Peel
Sometimes it seems participants in the global uranium and nuclear power industries spend more time attending conferences than they do actually sitting at their desks. Last week it was the turn of the Nuclear Energy Institute’s annual International Uranium Fuel Seminar in Seattle to distract the market.
Attendees came away from the seminar more pessimistic about the possibility of a market recovery, industry consultant TradeTech reports, than they were when they went in. Buyers of uranium do not see any need to chase offers, hence last week saw sellers become more aggressive towards week’s end in order to offload material.
The seminar provided the opportunity for deals to be concluded but interest waned throughout the week. Six transactions totalling 600,000lbs U3O8 equivalent were concluded in the spot market. TradeTech’s weekly spot price indicator has fallen -US30c to US$19.90/lb.
There were no transactions reported in term markets. TradeTech’s term price indicators remain unchanged at US$24.50/lb (mid) and US$30.00/lb (long).
Ups and Downs
News last week on both the supply and demand sides of the market was mixed.