No market confidence in uranium26 Jun 2013 16:48
Industry consultant TradeTech's Weekly U3O8 Spot Price Indicator was only down US$0.65/lb, but with the price dropping to US$39.75/lb, one wonders whether the drop, at least in psychological terms, will turn into something much greater. US$40 has been tested time and time again, and now it's finally been broken.
TradeTech reports that current spot demand remains thin and the only way to conclude deals at the moment is to drop prices, grin and bear it. There is a little ray of sunshine in that one non-US utility has finished looking at offers for over 500 thousand pounds, with a supplier soon to be named. The price from this transaction will be highly anticipated.