Australian news, and some related international items

Uranium market has become a ‘ghost town’ say analysts

Uranium Spot Market a ‘Ghost Town’ With No Price Change, Ux Says, Bloomberg, , By Jason Scott – Aug 22, 2011  Uranium spot prices, depressed by the nuclear crisis in Japan , were unchanged last week amid low trading volume, says Ux Consulting co.

Uranium-oxide concentrate for immediate delivery sold for $50.50 a pound in the seven days ended yesterday, the same as the previous week, Ux said in an e-mailed report today. That’s based on the most-competitive offer tracked by the Roswell, Georgia-based company.

The spot price for the nuclear fuel has declined 24 percent since the week before the March 11 earthquake and tsunami damaged Tokyo Electric Power Co.’s Fukushima Dai-Ichi power station. The crisis prompted some nations to put their atomic power plans on hold.

“A number of market participants have indicated that recent market activity has been very limited,” Ux said in the report. “This lack of activity has been described as the market looking like a ghost town.”…

August 25, 2011 - Posted by | Uncategorized

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