PRZOOM - /newswire/ -
Sarasota, FL, United States, 2007/02/11 - Uranium buyers/sellers lock horns on uranium price (again). They wait for results of the month-end uranium auction for price guidance.
According to Nuclear Market Review editor Treva Klingbiel, “Market participants are focused on the upcoming auction by a U.S. uranium producer.” This helps explain the relative stalemate between uranium buyers and sellers since mid December 2006, when the spot uranium price jumped a record $7/pound to US$72/pound. After a six-week freeze, the spot uranium price inched higher and has been trading at U$75/pound since late January. No change in TradeTech’s weekly spot uranium price indicator for the recent week, according to the February 9th issue of Nuclear Market Review.
“There is going to be upward pressure on prices,” TradeTech chief executive Gene Clark told StockInterview. While uranium buyers want to lock in fixed price contracts, sellers want to be paid the going rate at the ‘time of delivery.’ Because sellers expect rising prices in the months ahead, “a significant gap exists” between them,” Clark said.
While no transactions took place again this week, a single seller is now evaluating bids from several uranium buyers. But the long-term uranium market remains firm. According to Klingbiel, “15 utilities (are) currently evaluating offers or seeking to purchase almost 54 million pounds.”
Stockinterview.com is an online news service, which provides investigative reporting, editorial, analysis and provocative commentary of the nuclear fuel cycle, uranium mining, nuclear power, the environment and the natural resource industry. StockInterview.com has rapidly become the most popular website for uranium mining stocks as a result of its best-selling publication, “Investing in the Great Uranium Bull Market: A Practical Investor’s Guide to Uranium Stocks.”
The 304-page trade softcover edition of “Investing in the Great Uranium Bull Market,” is available online and is now offered on Amazon by visiting amazon.com
About TradeTech & Nuclear Market Review
Denver-based TradeTech, through its predecessor NUEXCO, was the first organization to publish uranium prices, beginning in August 1968. Nuclear Market Review is a weekly TradeTech publication, which summarizes recent activity and transactions in the nuclear fuel sector. After publishing the spot and long-term uranium price in Nuclear Market Review, TradeTech reports the weekly spot uranium indicator on the consulting service’s website – uranium.info