Prices of Spot Uranium Remain Unchanged

With all the hype of new nuclear power generators being constructed in different parts of the world and Japan's much hyped reopening and rekindling of its nuclear power supply generation, prices of spot uranium basically remain unchanged at $50.75 per pound U3O8 last week, TradeTech said.

On Friday, TradeTech maintained its daily price for uranium, saying demand continued to be "dominated by highly price sensitive and discretionary demand, and while spot supplies are currently sufficient to meet demand [and] sellers are not actively seeking to push material to the market."

"The gap between willing buyers and willing sellers shows little signs of closing and spot transaction levels are low," added TradeTech.

Despite Japan's recent pronouncements it is already prepared to gradually restart its 54 suspended nuclear reactors, the spot uranium market still had only had two transactions last week, at 300,000 pounds of U3O8 total.

"The announcement (on Japan) has yet to result in any actual impact on the spot uranium market," TradeTech said.

Ux Consulting, meanwhile, pointed out the continued light volume of uranium trading in the spot market this year, equivalent to 16.3 million lb U3O8 in the first six months.

Ux Consulting likewise said that unless some activity happens in the next six months of the year, spot uranium volume for 2012 remains below the normal spot volume over the past three years which was over 50 million per pound. 

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