TradeTech Introduces Daily Uranium Spot Price Indicator
Yahoo News reports TradeTech with effect of March 1st will commence publishing a daily uranium spot price indicator to reflect data from completed and pending transactions in the uranium spot market.
Yahoo News reports TradeTech with effect of March 1st will commence publishing a daily uranium spot price indicator to reflect data from completed and pending transactions in the uranium spot market.
The market news is quoted as saying:
The uranium spot market has witnessed more vigorous trading activity over the past two years, with a wider range of buyers and sellers. This has led to greater price volatility. In fact, the increase in the spot price last year, which climbed above US$60 per pound of uranium oxide (U3O8) for the first time in over two years, was also supported by record spot market activity. Total spot uranium sales volume in 2010 reached 42.8 million pounds U3O8—the highest level since 1990.
TradeTech’s President, Treva E. Klingbiel says:
“The uranium market is evolving. Due to increased influence of financial players, today’s uranium spot market is more closely aligned to other commodities than it was five years ago. While volumes traded by the financial community are relatively small compared to overall nuclear power industry needs, they are significant in the uranium spot market, which had been traditionally thin and illiquid”