By Greg Peel

There's a reasonable amount of demand around for uranium at present, according to industry consultant TradeTech, but not in the spot market. Requests for delivery later this year or into 2013 are short dates as far as the wider uranium market goes but their existence is having little impact on spot pricing.

Only two spot transactions were concluded last week totalling 250,000lbs as neither the buy-side nor the sell-side feels compelled to give up much ground. TradeTech's spot price indicator fell by another US25c to US$52.25/lb.

TradeTech's medium and long term price indicators remained at US$55/lb and US$61/lb respectively despite some building demand for the longer dates. One utility is seeking 800,000lbs U3O8 for delivery by the end of the quarter and a producer is looking for a further 400,000lbs.

There is a utility seeking 1.2mlbs for delivery over four years and another is looking for 1.7mlbs for delivery over 2014-2020 and these are only two of a handful of longer dated contract deals on TradeTech's radar.