nuclear-news

Uranium mining – a sick industry and getting sicker

Spot uranium price falls below $41/lb U308 on weak demand, good supply Washington (Platts)–6 Nov2012 The spot market price of uranium is now below $41/lb U3O8, according to price publishers TradeTech and Ux Consulting.

And given continued bearish sentiment in the market, some analysts are not ruling out the possibility that the spot price could fall $40/lb before the end of the year. UxC said that the price has not been $40/lb since March 2006.

TradeTech on Friday lowered its weekly spot price to $40.75/lb, down $2.25/lb from its October 26 price. Most of the decline occurred around October 31, TradeTech said, “driven by an increase in the supply” and weaker demand. “Sellers hoping to place material were faced with accepting lower prices well into the first and second quarters of 2013 to conclude transactions,” it said.

TradeTech’s daily price Monday also was $40.75/lb.

UxC on Monday cut its weekly spot price to $40.75/lb, down $1.75 from October 29. UxC said the questions now facing the market are whether the $40/lb support level will be broken and if it holds, what type of rebound in price might the market expect to see.
UxC’s broker average price on Monday was $40.69/lb, down 30 cents from Friday. The BAP bid-offer spread Monday was $40-$41.38/lb. The BAP is based on the price information from Evolution Markets and Armajaro Securities.

The Platts NuclearFuel price range for week was $39.50-$43/lb U3O8….. http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8889209

November 7, 2012 - Posted by Christina Macpherson | 2 WORLD, business and costs, Uranium