Market prices for uranium – grim and getting grimmer
Uranium Week: Another Broker Downgrades Price Forecasts Ninemsn-Mar 24, 2014 Only four transactions totalling 500,000lbs of U3O8 equivalent were conducted in the spot uranium market last week. Industry consultant TradeTech notes year to date volumes, at just 7.4mlbs, are down 32% on the same time last year. The ongoing lack of buyer urgency saw TradeTech’s spot price indicator fall another US15c to US$34.60/lb.
Critical to global demand-supply is the restart of Japanese reactors, progress in which has been slower than the broker expected.
So far 17 of Japan’s 44 idled reactors have applied to the regulator for restart,……
Brokers have long seen the first Japanese restarts as the impetus for the uranium market to overcome its malaise, but even with the first of these in sight a well supplied market has meant little price improvement.
As a result, Merrills has lowered its 2014 spot price forecast by 3.2% ….There were no transactions in the term market last week and TradeTech’s term price indicators remain unchanged at US$37.75/lb (mid) and US$50.00/lb (long)……..http://finance.ninemsn.com.au/article.aspx?id=8819579
1 Comment »
Leave a comment
1 This month
of the week – Disrupting War & Militarism in Oceania. Active solidarity. Radical practice.
Antinuclear 
Today’s Advertiser contains an article about a new uranium mine in SA. Apparently the SA Government has given $50,000 of taxpayers money to the Ian Wark Institute at the University of SA for them to study a way of recovering the uranium from this proposed in-situ-leach uranium mine. ANSTO is also involved. The Ian Wark Institute was set up by someone with a long history of involvement in the nuclear industry. I think he was involved in the early days of the Synroc project, another ANSTO project which seems to have fizzled out after spending umpteen million of taxpayer’s money.
LikeLike