Media - In the Market
Update for the public provided three days after publication.
Nov 14, 2014 - The spot uranium price climbed again this week, rising $2.00 to settle at $44.00 per pound U3O8 today. Prices dipped slightly at mid week, but upward momentum returned after the brief respite and prices continued to increase as the week came to a close. This current price is the highest level for TradeTech’s Weekly U3O8 Spot Price Indicator since September 2012, and represents a 28 percent increase over the spot price at this time last year. Steady demand, particularly from traders, continued to fuel the price rise this week. A total of 11 transactions, involving purchases by utilities, traders, and financial entities are reported for the week. Prices in transactions concluded during the week spanned a broad range. Delivery timing was the primary factor accounting for the variation in prices, with transactions calling for delivery further out in time commanding slightly higher prices than transactions demanding immediate delivery. Spot uranium demand remains discretionary, but near-term supplies are thin as the year draws to a close. Sellers are also exercising discretion in extending offers, in anticipation of more buying interest entering the market in coming weeks. TradeTech’s Weekly U3O8 Spot Price Indicator is $44.00 per pound U3O8, an increase of $2.00 from last week’s value and an increase of $1.75 from the November 13 Daily U3O8 Spot Price Indicator. read more