TradeTech's Uranium Spot Price Rebounds and Climbs Above $40
(firmenpresse) - DENVER, CO -- (Marketwired) -- 11/11/14 -- (Bloomberg: TDTC) has climbed nearly 16 percent over the past week to US$42.25 per pound U3O8 -- the highest value since March 31, 2013, as buying interest from utilities, traders, and financial entities has fueled a steady increase in the spot market price.
Increased buying interest has led sellers to progressively increase offer prices as each new sales opportunity emerges. was $42.00 per pound on November 7, which in percentage terms was the second-largest increase (week-on-week) since 1996 (). The spot price has continued its climb, with reaching $42.25 per pound on November 10.
"Significant week-on-week price changes in the uranium spot market are relatively infrequent and this price jump was spurred by increased buying interest from all market sectors," said TradeTech President Treva E. Klingbiel. "Although buying interest from financial entities and utilities is expected to increase before year end, the majority of current spot market demand remains largely discretionary," she added.
Buyers also entered the uranium market amid news that Japan is moving closer to the restart of its first nuclear power facility since the March 2011 Fukushima accident. On November 7, Kyushu Electric Power Company received final approvals to restart its Sendai Nuclear Station, as local and prefectural governments voted in favor of returning the two-reactor station to service. The Sendai reactors are expected to return to commercial service in the first half of 2015, according to TradeTech's latest forecast.
TradeTech's Weekly and Daily U3O8 Spot Price Indicators reflect the company's judgment of the price at which spot and near-term transactions for significant quantities of natural uranium concentrates could be concluded, based on data from recently completed and/or pending transactions, and firm bids to buy and firm offers to sell uranium concentrates on the spot uranium market.
TradeTech, and its predecessor companies -- NUEXCO Information Services, CONCORD Information Services, and CONCORD Trading Company -- has supported the uranium and nuclear fuel cycle industry for more than 40 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.
The company publishes the , which reports TradeTech's , uranium trading activity, industry news, and market data. The monthly edition of the NMR, published on the last day of each month, includes TradeTech Market Values (Exchange Value, UF6 Value, Loan Rate, Conversion Value, SWU Value, and Transaction Value) and Mid- and Long-Term U3O8 Price Indicators, as well as price analysis, supply/demand data, and industry news. TradeTech also publishes , a monthly trade publication dedicated to the international nuclear power industry, and a quarterly , which provides timely analysis of the global uranium production industry, including spot- and long-term uranium price forecasts.
TradeTech
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7887 E. Belleview Avenue
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Englewood, CO 80111
Phone: +1 (303) 573-3530
Fax: +1 (303) 573-3531
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Datum: 11.11.2014 - 21:54 Uhr
Sprache: Deutsch
News-ID 351634
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