Spot U3O8 Up On Increasing Demand

- January 20th, 2011

FNArena reports spot uranium has continued to rise with TradeTech adding another 7% since December.

FNArena reports spot uranium has continued to rise with TradeTech adding another 7% since December.

The market news is quoted as saying:

Whereas analysts at JP Morgan repeatedly stated they cannot see why the global uranium market would remain in deficit, Macquarie suggests Chinese demand will keep U3O8 in deficit and thus prices on the run. Even without the Chinese, argues Macquarie, global uranium supply would still be in deficit.

Meanwhile in the real world, spot uranium prices have continued to rise and they have now, on calculations by industry consultant TradeTech added some 7% since December. TradeTech registered another increase to its weekly spot price indicator for the week ending on Friday, with spot U3O8 rising another US$1.50 to US$66.50/lb. Only months ago spot U3O8 was registered as hovering around US$40/lb. But then, it was less then four years ago that spot prices peaked at US$136-138/lb.

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