Media - In the Market
Update for the public provided three days after publication.
Dec 6, 2013 -The spot uranium price slipped this week and fell $1.40 to $34.50 per pound U3O8. Sellers grew increasingly aggressive as the close of the calendar year approaches amid news that Deutsche Bank is looking to scale back its activities in the physical energy and metals commodities market, which encompasses its uranium trading activities. Deutsche Bank is the second large financial firm to announce in recent weeks that it is exiting the uranium market. Goldman Sachs announced last month that it would actively seek a buyer for its uranium trading business. Both firms have cited increasing regulation as the impetus for the move. This news contributed to the general uncertainty which has permeated the uranium market for most of this year and to an already bearish outlook on the part of sellers. As a result, offer prices declined steadily over the week as suppliers looked to close transactions. A total of eight transactions are reported this week. Buyers included traders, utilities, and financial entities, while sellers were producers and intermediaries. TradeTech’s Weekly U3O8 Spot Price Indicator is $34.50 per pound U3O8, a decrease of $1.40 from last week’s value and down $0.50 from the December 5 Daily U3O8 Spot Price Indicator. read more