The spot price of uranium remain at $40.75 a pound U3O8 in the past week, according to value publishers TradeTech and Ux Consulting. But there are rising signs that a number of large utilities in Asia and Europe are poised to enter the medium- and long-term markets for substantial quantities of uranium, several market sources said. That action should result in a main move up in the medium- and long-term prices, said one analyst, adding that spot prices will likely follow suit.
But for now, the spot market seems to be caught up in the summer doldrums, TradeTech said late Friday. Buying interest is lackluster at best, and all require is discretionary, the company added. UxC late Monday added that prices in some recent deals for delivery at the end of 2010 and in the first half of 2011 have reportedly contained prices higher than the current spot pointer.
But a more bearish seller said he expects the spot price to remain weak for fairly a few months. He additional that to attract buyers in today's market, one would have to make an offer much closer to $40/lb. UxCs broker standard price was $40.76/lb on June 21, up slightly from the $40.71/lb BAP on June 14. he BAP is a daily planned midpoint of the bids and offers reported by three brokers -- ICAP, Tullett rebon, and MF Global,according to UxC.
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But for now, the spot market seems to be caught up in the summer doldrums, TradeTech said late Friday. Buying interest is lackluster at best, and all require is discretionary, the company added. UxC late Monday added that prices in some recent deals for delivery at the end of 2010 and in the first half of 2011 have reportedly contained prices higher than the current spot pointer.
But a more bearish seller said he expects the spot price to remain weak for fairly a few months. He additional that to attract buyers in today's market, one would have to make an offer much closer to $40/lb. UxCs broker standard price was $40.76/lb on June 21, up slightly from the $40.71/lb BAP on June 14. he BAP is a daily planned midpoint of the bids and offers reported by three brokers -- ICAP, Tullett rebon, and MF Global,according to UxC.
For more news visit : http://www.platts.com/RSSFeedDetailedNews.aspx?xmlpath=RSSFeed/HeadlineNews/Nuclear/8839216.xml
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