\n\tBy Greg Peel<\/p>\n
\n\tNo one is much interested in buying the quantity of UF6<\/span> on offer in the US and while demand remains for U3O8<\/span> the only supply of note is in Europe and genuine buyers are looking for supply contracts a little longer dated than spot. The end result has been a quiet March for uranium in quarterly terms. March monthly spot volumes were an improvement on February but March 2012 saw only 6.9mlbs of U3O8<\/span> equivalent change hands compared to 18mlbs<\/span> in March 2011, industry consultant TradeTech<\/span> reports.<\/p>\n \n\tLast week saw a little flurry of buying interest ahead of quarter end and TradeTech<\/span> notes 700,000lbs<\/span> of U3O8<\/span> equivalent traded compared to only 400,000lbs<\/span> the week before. That flurry sees TradeTech's<\/span> indicative spot price rise by US10c<\/span> to US$51.10\/lb. Sellers remain reluctant to drop prices to meet buying interest.<\/p>\n \n\tTradeTech's<\/span> monthly price indicator thus also closes at US$51.10\/lb, down from US$52.00\/lb in February. There were no transactions reported in the term market last week and only one in all of March, leaving TradeTech's<\/span> term price indicators steady at US$54\/lb (medium) and US$60\/lb (long).<\/p>\n \n\tThe negative price gap between UF6<\/span> on offer in the US and U3O8<\/span> sought in Europe remains, TradeTech<\/span> notes, but March has seen that gap narrow somewhat.
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