mid price down 4.35% at 65.75 fri 4 mar

U3O8 mid price backfired on Friday 4 March and if you followed the Bloomberg ticker MFURMDUR:IND you could see movement throughout the day Open 68.75, High 68.75, Low 68.24, Close $65.75. Mid price unchanged at 65.75 Monday 7 March

The belated TradeTech spot statistic, published for mere mortals to read a few days after the fact, is $66.75 as of Mar 4

http://www.tradetech.com/
March 4, 2011?Four transactions are reported this week in the spot uranium market. The spot price exhibited increased volatility with TradeTech?s Weekly Uranium Spot Price Indicator at $66.75 per pound U3O8, down $2.75 from the February 28 Exchange Value and down $0.75 from TradeTech?s March 3 Daily Uranium Spot Price Indicator. The spot price for uranium was just beginning to rebound after falling sharply in February when a seller unexpectedly entered the market offering over 800 thousand pounds U3O8.

The US Department of Energy (DOE) announced on March 2, it would release as much as 450 tU as UF6 (1.2 million pounds U3O8 equivalent) into the market on a quarterly basis in order to fund further clean-up efforts at the Portsmouth, Ohio enrichment facility. On March 3, USEC issued a Request for Proposals (RFP) on behalf of DOE seeking bids from potential buyers for almost 350 tU as UF6 for delivery in March, with bids due to USEC on Wednesday, March 9.

The announcement and immediate issuance of the RFP by DOE caused a number of buyers to pull back from the market and prompted some sellers to lower offer prices in order to attract buyers. The current price level has spurred additional buying interest and several utilities have entered the spot market in hopes of securing material at ?bargain prices.? Unfortunately for sellers, this buying interest is truly ?discretionary? and unlikely to result in transactions at prices significantly above today?s published price until the DOE material clears the market. read more