- Spot uranium prices fell slightly last week - Activity remains subdued, buyers cautious - Mid and long-term price indicators unchanged

By Chris Shaw

Last week was another exceptionally quiet week in the spot uranium market, reports industry consultant TradeTech. The consultant suggests this is reflecting cautious activity by both buyers and sellers.

As TradeTech notes, buyers remain reluctant to commit to purchases at higher prices, which is forcing sellers to lower prices in order to finalise sales. The week saw four transactions totaling 400,000 pounds of material, TradeTech's weekly spot price indicator falling US$0.75 to US$57.00/lb.

TradeTech's daily spot price indicator also finished April 15 at US$57.00/lb, down US$1 from the April 14 daily price.

There was no new activity in the term uranium market, TradeTech noting offers are due on June 1 for a non-US utility seeking up to 2.9Mlb of material for deliveries beginning in 2012. Another non-US utility is seeking offers for about 2.2Mlb for delivery between 2012 and 2019, while a US utility is chasing up to 5Mlb of uranium for delivery over a five-year period.

Both the conversion and enrichment markets were also quiet last week, which contributed to no changes to TradeTech's mid-term or long-term price indicators. These stand at US$62/lb and US$68/lb respectively.

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