NewswireToday - /newswire/ -
Sarasota, FL, United States, 2007/03/18 - StockInterview - Each spot uranium auction conducted by Mestena Uranium LLC has led to strong increases in the weekly spot uranium price since mid December. This month’s Mestena uranium auction could attract fierce bidding.
By the end of March, Mestena Uranium LLC is expected to offer another 100 thousand pound U3O8 for sale through a sealed-bid auction. Each spot uranium auction conducted by Mestena has resulted in strong price increases in the spot uranium market. “Bidding is expected to be aggressive,” wrote Nuclear Market Review editor Treva Klingbiel in the March 16th issue.
“The market is already under upward price pressure due to thin supply,” said Klingbiel. The uncertainty of supply accompanying the recent flooding at ERA’s Ranger mining operations in Australia has not yet worked its way through the market. “Several parties are nearing completion of negotiations of deals,” Klingbiel wrote. With nine buyers hoping to obtain about four million pounds U3O8 equivalent, “more demand (is) on the horizon,” she added. Much of the current demand depends upon how soon ERA can bring Ranger’s operations back to the expected production level.
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TradeTech, and its predecessor companies-NUEXCO Information Services, CONCORD Information Services, and CONCORD Trading Company, has supported the domestic nuclear fuel cycle (uranium) industry for more than 35 years, and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic and political factors affecting this industry. TradeTech provides expert market consulting, participates in the buying and selling of uranium products and services, and maintains an extensive information database on these industries.
After publishing the weekly uranium spot price indicator in the Nuclear Market Review magazine every Friday, TradeTech publishes the price indicator on the consulting service's website at uranium.info