nuclear-news

Flat uranium market with more uncertainty about the industry’s future

Uranium, Two Pounds For A Benny International Business Times, July 24, 2012  By Andrew Nelson It was yet another dull week on the spot uranium market last week, marked by slim volumes and another minor price decline. As of Friday, a US$100 bill sporting the inscrutable face of Benjamin Franklin, will now buy you two pounds of uranium.

Industry analyst TradeTech reported just 3 transactions last week, with only 250,000 pounds changing hands. Also affecting trading was news that Honeywell will not restart production at its Metropolis Works conversion facility, operated by ConverDyn. The company said the plant could remain closed for as long as 12-15 months in order to
undertake safety upgrades ordered by the US Nuclear Regulatory Commission…….

Whether the news is relevant or not to the daily grind of the uranium spot trading, it certainly did a good job of introducing even more uncertainty into what remains a very tentative market. The end result of low volumes, at least one motivated sell and new uncertainly was a US$0.25 decline in TradeTech’s Weekly U3O8 Spot Price Indicator to US$50.00.

There was no activity and only a little demand in the term market. None of it was new and all of it is coming from non-US utilities. TradeTech’s mid-term and long-term indicators remained unchanged at US$54.00 and US$61.00 respectively….
http://au.ibtimes.com/articles/366001/20120724/uranium-two-pounds-for-a-benny.htm#.UBGVnGGe5dM

July 26, 2012 - Posted by Christina Macpherson | 2 WORLD, business and costs, Uranium