July 31, 2010TradeTechs July 31 Exchange Value increased by $3.50 to $45.25 per pound U3O8, an increase of over 8 percent from the June 30 Value. This is the largest increase in the Exchange Value since October 2009 when the price rose $3.50 to $46.50 per pound U3O8. A total of 22 transactions were concluded in July, with prices increasing steeply during the second half of the month.
The price rise began after equipment failures and an ongoing labor dispute created some uncertainty for ConverDyns Metropolis, Illinois conversion facility, where production is not running at full capacity. The events at Metropolis led some buyers to enter the market to acquire small amounts of inventory as a precaution against potential future disruptions in deliveries.
Separately, the presence of producers on the buying side exerted even greater upward pressure on prices with primary producers accounting for more than one-third of the total volume purchased this month.
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