nuclear-news

Uranium market looking sicker than ever

Spot uranium drops below US $40.lb  9 News Finance, 11 June 13 – Uranium spot price falls below US$40/lb – Spot market slow – Activity, but no sales in term markets.. By Andrew Nelson Stubborn uranium sellers have been holding off speculative buyers for a while now, unwilling to drop prices to get deals done. Consumers, on the other hand, have little short term requirement and many are out there cherry picking the market. That has been the way of things for quite a while now, that is until last week.

There were only four sales booked in the spot market last week, which saw 500,000 pounds of U308 change hands. More importantly, sellers finally started to buckle in their resolve and in turn, the spot price fell below what has been key psychological support at US$40/lb. This is the first time we’ve seen sub 40 price since March 2006…..with the price dropping to US$39.75/lb, one wonders whether the drop, at least in psychological terms, will turn into something much greater. US$40 has been tested time and time again, and now it’s finally been broken.

TradeTech reports that current spot demand remains thin and the only way to conclude deals at the moment is to drop prices, grin and bear it. …
no new transactions were concluded, leaving TradeTech’s Mid-Term U3O8 Price Indicator at US$44.00/lb, while the Long-Term Price Indicator was flat at US$57.00/lb.
There are still a number of analysts out there spruiking …. http://finance.ninemsn.com.au/newscolumnists/other/8672944/spot-uranium-drops-below-us40-lb

June 12, 2013 - Posted by Christina Macpherson | 2 WORLD, business and costs, Uranium