June 13, 2008–The spot market for uranium was quite active this week and TradeTech’s Spot Price Indicator dropped $1.00 to $59.00 per pound U3O8. Six transactions were concluded. Prices slipped as buyers and sellers struggled with conflicting market signals. Of the total volume, two-thirds were concluded above today’s spot price indicator and the remaining one-third were concluded below. Buyers included utilities, traders, and investors. One potential buyer, expected to purchase approximately 1 million pounds U3O8, has temporarily withdrawn from the market. Sellers that had earmarked material for this buyer were faced with finding new sales opportunities. As a result, some sellers seized the opportunity to place material while others continue to hold firm on prices. Demand is highly discretionary.
VBA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
