Uranium Advances First Week Since June Record, TradeTech Says...

Uranium Advances First Week Since June Record, TradeTech Says

Oct. 14 (Bloomberg) -- Uranium priced in dollars advanced
for the first time since falling from a record in June, said
TradeTech LLC, a publisher of price assessments. The element is
the raw material for nuclear reactor fuel.

Sellers ``are cautiously moving their offer prices up,'' TradeTech said.

``In recent months, a number of sellers have been motivated
by cash needs, lowering offer prices or accepting bids below the
current market price,'' TradeTech said. ``These sellers have now
successfully placed the majority of this material.''

The metallic element for immediate delivery rose $3, or 4
percent, to $78 a pound, Denver-based TradeTech said Oct. 12 in a
weekly report. Approximately 800,000 pounds of uranium were sold
in four transactions, the company said.

Uranium has fallen from a record $138 a pound in June.
Prices doubled last year, spurring some utilities to build up
inventories. Earlier this year, some buyers withdrew from the
market as prices for the metal extended their advance.

Three of last week's transactions were at $75 a pound and
the fourth at about $78, TradeTech said. Uranium priced in euros
has risen twice this month, according to data compiled by
TradeTech.

Demand for supplies for delivery over the next 10 years has
emerged, although the price was unchanged at $95, TradeTech said.