Bargain Hunters Rule In Spot Uranium Market

By Rudi Filapek-Vandyck The spot uranium market (U3O8) has effectively gone into holiday mode with industry consultant TradeTech recording only four concluded deals for the week ending on Friday, still good for circa 400,000 pounds to change ownership during the week. All buying activity remains discretionary, reports TradeTech, hence market activity is all about buyers trying to seal a bargain. No surprise thus, the consultant's weekly spot price benchmark has yet again taken a (small) step backwards finishing the week down US25c at US$52.25/lb. TradeTech's mid-term price benchmark has remained unchanged at US$54.50/lb while the longer term benchmark still sits at US$62/lb.

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