Spot Uranium Price Likely to Jump After Two Auctions This Week
Source: Platts (5/30/07)
While the spot price of uranium is likely to rise sharply after two
auction-like sales are completed Wednesday and Friday, the two leading
price-reporting firms late Tuesday were keeping their prices at last week's levels.
Ux Consulting maintained its price at $125 per pound of U3O8, while TradeTech kept its price at $122/pound U3O8.
The first auction this week is by Texas-based Mestena Uranium, which is accepting bids Wednesday for delivery of 100,000 pounds of U3O8 in June. The second auction is set for Friday by Georgia-based trader American Fuel Resources, which is said to be acting on behalf of an investment fund.