Media - In the Market
Update for the public provided three days after publication.
Feb 28, 2014 - Activity in the spot uranium market slowed in February with 17 transactions reported in February. Although utilities were active buyers in February, almost all purchasing was discretionary. Without the presence of requirements-driven buying, sellers were faced with lowering offer prices to attract buyers or forego sales opportunities altogether. Since fewer parties were “have-to” sellers in February, market activity slowed and transaction volume declined. The market continues to watch for signs that an institutional buyer expected to enter the market for over 1 million pounds U3O8 is set to purchase material. Delivery location remains a key component in spot uranium pricing. Deliveries in Europe continue to command higher prices than material offered for delivery in North America, with material located at Cameco generally available at prices below the prices of material held at Comurhex or ConverDyn.As the month came to a close, sellers were exhibiting a greater willingness to drop prices in order to conclude transactions. TradeTech’s February 28 Exchange Value is $35.25 per pound U3O8, a decrease of $0.15 from the January 31 Exchange Value and down $0.25 from the February 27 Daily Uranium Price. read more