By Greg Peel

The Thanksgiving holiday interrupted activity in the uranium market last week and industry consultant TradeTech's capacity to report transaction data, however the consultant has pulled back its spot price indicator by US35c to US$35.90/lb.

This slight easing in price belies what was otherwise a solid November for trading activity, with gradual weekly price rises reflecting several developments on the supply-side and renewed interest in speculative buying as a result. The month saw the Russian HEU supply agreement come to an end after a decade, Russia's Rosatom putting its Honeymoon project in Australia on standby, Kazakhstan curtailing production expansion, Paladin Energy ((PDN)) and Cameco delaying expansion and introducing cost cutting measures, and Goldman Sachs exiting the uranium trading market.

There were 27 spot transactions concluded in November, TradeTech reports, for a total of 4.3mlbs of U3O8 equivalent. Supply-side news saw sellers backing off as the month progressed, resulting in a net US$1.65 monthly increase in the spot price despite last week's fall.

Demand has also been slowly picking up in the term market, and seven transactions were concluded for delivery in 2015-20. Further contracts are under evaluation and TradeTech has seen fit to increase its mid-term price indicator by US$1.75 to US$39.00/lb.

The long-term indicator remains unchanged at US$50.00/lb.

Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" - Warning this story contains unashamedly positive feedback on the service provided.

FN Arena is building the future of financial news reporting at www.fnarena.com . Our daily news reports can be trialed at no cost and with no obligations. Simply sign up and get a feel for what we are trying to achieve.

Subscribers and trialists should read our terms and conditions, available on the website.

All material published by FN Arena is the copyright of the publisher, unless otherwise stated. Reproduction in whole or in part is not permitted without written permission of the publisher.