By Greg Peel

It was three weeks ago when industry consultant TradeTech noted expectations from uranium market participants that buying interest would be limited for the time being. Uncertainties included the overhang of Japanese inventory, US plans to increase enrichment of tailings inventories, and general concern with regard to the world's post-Fukushima outlook on nuclear energy.

And last week we can throw in financial market turmoil.

So it is of little surprise that that buyer disinterest persisted last week, such that a total of one million pounds of U3O8 equivalent in seven transactions saw prices chased lower. By week's end, TradeTech had lowered its spot price indicator by US$1.25 to US$50.25/lb.

There was no new demand in the term market, and at the moment little in the way of catalysts to drive the uranium price higher. We recall from the immediate Fukushima price reaction, however, that there was buying interest triggered under US$50/lb. As to whether there are still buyers lurking at that level we may soon be about to find out.

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.