Uranium Drifting

FNArena reports on spot uranium with the fears of  US economy.

The market news is quoted as saying:

Industry consultant TradeTech notes sellers were willing to push the price lower as the week progressed in order to find buyers, but by week’s end the consultant’s spot price indicator had fallen only US50c to US$51.50/lb. The week before saw a US25c rise.

A total of seven transactions were conducted for over 900,00lbs of U3O8 equivalent. Some buying interest has since emerged, nevertheless, with two non-US utilities seeking offers for a total of around 500,000lbs. There were no transactions conducted in the term market last week, TradeTech reports.

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