Spot Uranium Prices Fall By More Than $2 Over the Week

Platts reported the spot price of uranium fell by more than $2 over the past week to $43.50/lb U3O8, price reporting companies TradeTech and Ux Consulting.

As quoted in the market news:

The decline represents the biggest weekly drop since April 2011 right after the accident at Japan’s Fukushima 1 nuclear plant, UxC said.

TradeTech on Friday cut its weekly price to $43.50/lb U3O8, $2.25 below its October 5 price. The company said “driving force” in the decline was “a clearly pessimistic view about near-term spot demand from both discretionary and ‘have- to’ buyers.”

Click here to read the full Platts report.