Uranium spot price slips further as US DoE to release 1.2Mlb U3O8

IFandP reports on the uranium spot market and its recent price drop.

The market news is quoted as saying:

The price was influenced by the US Department of Energy announcement two days earlier that it would release 450tU as uranium hexafluoride on the market, equivalent to 1.2Mlb of uranium oxide to fund further clean-up efforts at the Portsmouth, Ohio, enrichment facility. As a result, the day after, USEC issues a request of proposals seeking bids, due on March 9, for nearly 350tU as UF₆ for delivery in March. Consequently, a number of buyers withdrew from the market and sellers to lower offer prices. Several utilities are expressing interest, hoping to “net a bargain”.

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