Australian Uranium News - Research
Update From Previous Post
Spot Price +$4.25 to US$46.00P/Lb
Spot Price +$4.25 to US$46.00P/Lb
Click Image Below For Historical Spot Prices
The spot uranium price has kicked US$4.25, or 10.2 per cent to US$46.00 a pound, according to UxC Consulting. The long term price was quoted at US$60.00 a pound.
UxC said the spot uranium price has moved up sharply over the past week as market activity has picked up, especially on the buy side. UxC reported that since last Tuesday, six transactions were reported as awarded totaling about 700,000 pounds U3O8 equivalent.
As buyers stepped up to the plate posting bids to buy, sellers backed away from previous offer levels and a number of market participants have been reporting a decline in the number of new offers.
"Based on the most competitive offers of which we are aware, the Ux U3O8 Price increases to US$46.00 per pound, up US$4.25 for the week and month. This is the largest single weekly increase since the US$5 increase near the end of May last year."
UxC reported "the market again is on the move, with price increasing a total of $4.25 for the first month of the quarter. Ever since price declined in the second half of 2007, any price increases that have occurred have been short-lived, not lasting beyond six weeks."
Most of these increases have been quite sharp.
In a potentially bullish point for uranium equities, including producers and explorers, UxC is of the opinion that with the price hovering around $40 for some time, and if this continues, "at some point price increases will be more sustained, at least relative to the declines."
Source: UxC Consulting
UxC said the spot uranium price has moved up sharply over the past week as market activity has picked up, especially on the buy side. UxC reported that since last Tuesday, six transactions were reported as awarded totaling about 700,000 pounds U3O8 equivalent.
As buyers stepped up to the plate posting bids to buy, sellers backed away from previous offer levels and a number of market participants have been reporting a decline in the number of new offers.
"Based on the most competitive offers of which we are aware, the Ux U3O8 Price increases to US$46.00 per pound, up US$4.25 for the week and month. This is the largest single weekly increase since the US$5 increase near the end of May last year."
UxC reported "the market again is on the move, with price increasing a total of $4.25 for the first month of the quarter. Ever since price declined in the second half of 2007, any price increases that have occurred have been short-lived, not lasting beyond six weeks."
Most of these increases have been quite sharp.
In a potentially bullish point for uranium equities, including producers and explorers, UxC is of the opinion that with the price hovering around $40 for some time, and if this continues, "at some point price increases will be more sustained, at least relative to the declines."
Source: UxC Consulting
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