Nuclear Market Review (NMR) editor Treva Klingbiel reported in this week’s issue, “Two sellers that were evaluating bids in response to their auctions have concluded their evaluations and have decided not to sell at this time.” She added, “Both sellers preferred to make delivery in June while most bidders were seeking delivery for several months out.” The U3O8 Weekly Spot Price Indicator, as published in NMR, remained unchanged at US$138/pound.While spot U3O8 transactions could remain in the $130 to $150/pound range for a while longer, it appears that increased supply in proportion to market demand could lead to a temporary price hiccup. We cautioned of this possibility in early January of this year.According to the NUEXCO/TradeTech Exchange Value for monthly uranium spot, the last U3O8 spot price decline took place in May 2003.Traders have backed off the past few weeks. General discontent through the utility industry suggests spot U3O8 needs to take a breather.In an April 12th interview with Yellowcake Mining director Dr. Robert Rich, he warned of a ‘price adjustment.’ But, he also told us at the time, “The minute buyers see things go down, they are going to flock back into the market, and say, ‘Okay, we knew… Read full this story
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