Washington (Platts)--23Oct2012/243 pm EDT/1843 GMT
The spot price of uranium appeared to stabilize over the past week at, or just under, $43.50/lb U3O8, according to several analysts. But there remains a sense among analysts that the price will continue to be under some downward pressure, given that supplies appear to be more than adequate to cover very discretionary demand. TradeTech on October 19 kept its weekly spot price at $43.50/lb. It said "current demand is weak." If current low prices are encouraging some buyers to consider purchases, the majority of those potential buyers expect "prices to remain flat or drift down," TradeTech said. A number of sellers, however, have been encouraged somewhat by the uptick in potential demand and, for now, have ceased to lower their offer prices, TradeTech said. TradeTech on Monday kept its daily price at $43.50/lb. Article continues below... Request a free trial of: Nucleonics Week Since 1960, Platts Nucleonics Week has been the leading source of global news for the commercial nuclear power business. Nucleonics Week delivers analysis with a depth and sophistication simply unavailable anywhere else.
The spot price of uranium appeared to stabilize over the past week at, or just under, $43.50/lb U3O8, according to several analysts. But there remains a sense among analysts that the price will continue to be under some downward pressure, given that supplies appear to be more than adequate to cover very discretionary demand. TradeTech on October 19 kept its weekly spot price at $43.50/lb. It said "current demand is weak." If current low prices are encouraging some buyers to consider purchases, the majority of those potential buyers expect "prices to remain flat or drift down," TradeTech said. A number of sellers, however, have been encouraged somewhat by the uptick in potential demand and, for now, have ceased to lower their offer prices, TradeTech said. TradeTech on Monday kept its daily price at $43.50/lb.
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Since 1960, Platts Nucleonics Week has been the leading source of global news for the commercial nuclear power business. Nucleonics Week delivers analysis with a depth and sophistication simply unavailable anywhere else.
Ux Consulting on Monday kept its weekly price at $43.50/lb U3O8. Ux said that "while the market appears to have stabilized for now, the forward curve for the next nine months or so has become very flat, with offers going at only a slight premium to the current spot price." Ux said this suggests "that this period of the market [nine months out] is being fairly competitively offered and could mean additional downward pressure on the spot price." Ux's broker average price, or BAP, on Monday 22 was $43.50/lb, unchanged from Friday's mark. The BAP bid-offer spread Monday was $43/lb-$44/lb. Ux notes that the BAP is based on price information from Evolution Markets and Armajaro Securities. The Platts NuclearFuel range for this week was $41.50-$44.50/lb U3O8.--Mike Knapik, newsdesk@platts.com --Edited by Keiron Greenhalgh, keiron_greenhalgh@platts.com
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