nuclear-news

Plummeting share price, with glut of uranium

Spot uranium price falls to lowest levels in seven years on ample supply Washington (Platts)–Jasmin Melvin,  2 July 13 An ample supply of uranium in the spot market resulting from Japan’s shutdown of all but two of its 50 operational reactors after the nuclear accident at Fukushima I in 2011 dragged the uranium spot price to its lowest levels in seven years, price publisher TradeTech said in reports released Friday and Sunday.

In its weekly report Friday, TradeTech said sellers “with near-term cash-flow concerns and anxious over the drop in the spot price” have concluded deals for “small lots at prices low enough to encourage discretionary buying.” They remain hesitant, however, to part with large quantities of material at prices below $40 a pound U3O8, the once-accepted price barrier among market participants.

Sellers last month began to ease once-firm offer prices in efforts to offload uncommitted material in small volumes, pulling the uranium spot price below $40/lb for the first time since March 2006, according to data from price publishers Ux Consulting and TradeTech……

The Platts NuclearFuel range for the week is $39.25-$40/lb.

TradeTech lowered its weekly uranium spot price by 20 cents to $39.55/lb Friday, while Ux’s weekly price dipped 15 cents to $39.50/lb Monday.

TradeTech’s daily spot price remained $39.55/lb Monday, unchanged from Friday…..http://www.platts.com/latest-news/electric-power/washington/spot-uranium-price-falls-to-lowest-levels-in-21235399

July 5, 2013 - Posted by Christina Macpherson | 2 WORLD, business and costs, Uranium