NewswireToday - /newswire/ -
Sarasota, FL, United States, 2006/12/16 - TradeTech’s Nuclear Market Review posted a record 10-percent jump in the weekly spot uranium price for week ending December 15th – up $7/pound to $72/pound.
According to TradeTech’s ‘Nuclear Market Review’ magazine, the weekly spot uranium price jumped to $72/pound for the week ending December 15th. The more than ten-percent price increase - $7/pound – was the largest percentage jump in the 38 years of record-keeping for the weekly spot uranium price.
The price increase resulted from a number of bids for an offering by a U.S. uranium producer of 260 thousand pounds of U3O8. According to Klingbiel, “The producer received multiple bids with the winning bid at, or very near, today’s Uranium Spot Price indicator of $72/pound.” Klingbiel added, “Meeting this expectation, competition was indeed fierce, as buyers exhibited a willingness to pay a strong premium in order to purchase material at a fixed price.”
And the feeding frenzy may still continue. TradeTech reports another nine uranium buyers remain active in the market and seek an additional five million pounds of uranium oxide (U3O8). Another two utilities are seeking another 13.5 million pounds, and an additional fifteen utilities are evaluating long-term purchases for more than 35 million pounds, for delivery as early as 2007.
Stockinterview.com is an online news service, which provides investigative reporting, editorial, analysis and provocative commentary of the nuclear fuel cycle, uranium mining, nuclear power, the environment and the natural resource industry. From time to time, StockInterview.com editors cover biotechnology and other sectors. StockInterview.com is best known for its 304-page trade softcover edition of “Investing in the Great Uranium Bull Market,” please visit: bookstore.stockinterview.com
TradeTech and its predecessor NUEXCO have been publishing uranium market prices since the inception of the commercial nuclear fuel market in 1968. TradeTech provides uranium prices and industry news through its weekly magazine, Nuclear Market Review, published every Friday night.