Uranium Continues Its Retreat

Ninemsn.com reports uranium’s retreat in the new year 2010.

Industry consultant TradeTech’s U3O8 Spot Price Indicator showed a decline of US$1.25/lb to US$42.50/lb over the course of last week.

There were only three transactions reported in the week ending Friday, which involved less than 600,000 pounds U3O8 equivalent. The buyers included utilities and intermediaries and even while Trade Tech notes that five utilities are currently seeking offers for just over one million pounds U3O8, offers by a number of sellers that were below-market prices were unable to attract increasingly price concious buyers.

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