thats now five rises

uranium up again.

cheers.



In the Market ...
The spot uranium price continues to feel upward pressure on the heels of negative news from the supply side earlier last week. Both buyers and sellers came to the market, reflecting their view that the shift in market dynamics following this week’s news has resulted, and may continue to result, in increased prices. In addition to new demand from speculators, seven buyers are actively seeking just over 1.3 million pounds U3O8 equivalent. On the supply side, one US producer has entered the market offering to sell 100 thousand pounds or more for delivery later this month; bids are due by November 6. Another US-based seller is offering 260 thousand pounds U3O8 equivalent in the form of UF6; the seller will complete delivery anytime between now and June 2008.

The majority of sellers expect spot uranium prices to strengthen over the next few months, and as a result, are very hesitant to commit to sales at this time. Those that are willing to make firm offers are showing prices significantly above the current market price, in a continuing “tug of war” between bids and offers. On this basis, it is TradeTech’s judgment that it would take a price higher than the October 31 Exchange Value of $90.00 in order to conclude a deal today. Consequently, TradeTech’s Spot Price Indicator increases $3.00 to $93.00 per pound U3O8.