Australian Shares Discussion Forum
Uranium Discussion•Uranium Spot Price Update
-
- tturaniuminvest
- January 19
- Permalink
Industry consultant TradeTech's weekly spot price indicator for yellow cake has tumbled more than 1.5% during the week ending on Friday. TradeTech puts the blame on a "combination of offers from aggressive sellers and limited, largely discretionary, demand".
TradeTech's U3O8 spot price indicator now stands at US$43.75/lb, US75c (1.69%) lower than the week prior.
The consultant registered five transactions for a combined total of approximately 700,000 pounds U3O8 equivalent. Buyers included utilities and intermediaries, with TradeTech indicating prices in some of the spot transactions concluded were below the new spot price indicator.
The consultant adds the drop in price seems to have attracted new demand which, in turn, is likely to ease some of the downward pressure on prices.
TradeTech's Mid-Term U3O8 Price Indicator stands at US$50.00/lb, Long-Term Price Indicator stands at US$60.00/lb.
Cheers from tturaniumivest
-
Uranium Spot price Index updated data up to 22/1/2010
-
I hear that the value of U3O8 has tumbled to $40/lb. This denotes that either energy is currently cheap or that supply of Uranium is outstripping demand. I think the latter is currently true. This surprises me but seems real. There is more uranium on the market than buyers. For me this is counter intuitive. Alite
-
Alite there is a lot of concern that Obama is going to de-commission literally thousands of nuclear warheads... Around 30% of the USA's current uranium used for electricity generation comes from previous de-commissioning programs.
Personally I think that the concern is overdone as I cannot see America allowing its uranium to be exported as they are trying to build their own stockpiles.
Chinese, Korean, Indian and Russian demand should kick in soon. But as always the USA sets the market "tone" ... well at least for the time being.
