Commodities | Jan 27 2009
By Greg Peel
The analysts at uranium consultant TradeTech must be wondering if they are watching a global marketplace for an internationally important energy source or listening to the Channel Nine cricket commentary, so somnolent has the former become.
For the third straight week, no one has blinked. There have been no transactions in either spot or long dates and no new orders on the buy side. There are plenty of orders floating about, but no one has been bothered to budge much. One mob did drop its spot offer price by a dollar nevertheless, to no avail, so TradeTech’s official U3O8 spot price for the week is down to US$50/lb from last week’s US$51/lb.
It’s as if they’re also still in Aussie summer holiday mode. Except they’re all in the Northern Hemisphere.
TradeTech does however note there is one “distressed” seller out there offering his wares at a price below spot, but given the deal requires multiple delivery points and is COD the poor chap has been met with nothing but unkind guffaws.
So if anyone’s interested in selling some good gear out to 2021 there’s a buyer. Indeed there are buyers for all years in between. The sellers have stated their interests as well but, as there seems no rush, everyone’s just gone back to the pub.
TradeTech’s longer term price indicator has remained unchanged at US$70/lb.
