From FNArena today..
Some minor positive news came out this week for producers of uranium and their shareholders as industry consultant TradeTech decided not to follow the example of Ux Consulting last week and keep its weekly spot price indicator for uranium oxide, U3O8, unchanged at US$60 per pound. Last week, UxC lowered its weekly spot price indicator to US$59/lb.
According to TradeTech, two US utilities are currently evaluating offers for a combined 400,000 pounds of uranium equivalent and both are believed to have received offers above the current spot price. (The results still have to be announced). This would indicate the long awaited price recovery could finally be near.
Demand remains highly discretionary still, TradeTech reports. There were no deals concluded in the long term market, hence why the consultant's long term price indicator has remained unchanged at US$85/lb.
could it be a spot price reversal this week
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