As usual, this is only the spot price, and is based on four (yup - only FOUR) transactions. Here is what Tradetech had to say in summary for the week: (Note that it is a week behind, as only subscribers get the up-to-date price until a couple of days later. Newest should be up on their web site in another day or so) Meanwhile, long term contract prices remain unchanged.
==== START QUOTE ==== Sep 28, 2012 - The spot uranium market received conflicting signals this week and a lack of consensus about the direction of future uranium prices permeates the market. Last week, Japan’s Cabinet hit the brakes on a formal policy to phase out all reactors in 30 years, as the government bowed to pressure from the country’s largest business firms to keep reactors running. While only two have been restarted this year, the clear implication is that the rest need to come online and soon. In addition, China’s ambitious reactor building program is set to resume in the fourth quarter, paving the way for China to launch new projects for the first time since the Fukushima accident. The abrupt turnaround in Japan’s position has not reassured all market participants, and some sellers continued to drop offer prices over the course of the week. However, buying interest continues to emerge, particularly with the recent drop in prices. One non-US utility is seeking delivery of approximately 1.8 million pounds U3O8 contained in enriched uranium product (EUP) for delivery before year end. Because the utility is seeking EUP, several enrichment suppliers are looking for uranium and conversion supplies and/or partners in order to respond to the Request for Proposals; offers are due by October 9. Four transactions are reported for the week.
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