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After nine weeks of trading within a very narrow range, TradeTech’s Uranium Spot Price Indicator jumped $2.00 this week to $43.50 per pound U3O8—nearly a five percent increase.
This is the single largest increase in TradeTech’s Spot Price Indicator since October 2009, when the price increased from $47.50 to $50.00 per pound U3O8.
Utilities, intermediaries, and producers were all buyers this week. Recent equipment failures and an ongoing labor dispute have created some uncertainty for ConverDyn’s Metropolis, Illinois conversion facility, where production is not running at full capacity.
As a result, some buyers came to the market to acquire small amounts of inventory in order to forestall any impact from potential future disruptions in deliveries. In addition, the presence of producers on the buying side helped fuel the price rise.
A total of seven transactions were concluded over the course of the week. In addition, new demand emerged this week with a US utility seeking offers for just over 100 thousand pounds U3O8 contained in UF6; offers were due today.