- The UxC U308 spot price remained static this week closing Tuesday at US$47, after declining US$ 1 last week. . .
- The UxC U308 Long Term (LT) price again remains at US$70.00 per pound of U308e, unchanged now for 16 weeks. . .
- FIP (Fund Implied Price) decreased on the week, down -2.7 % or US$1.10 (TP), to close at -US$39.94 per pound of U308e Tuesday. The FIP is now $US 7.06 or 15 % below the spot price, decreasing the spread $0.53 or 32.5 % this week.
The Demand Side showed activity via the establishment of an Indian Joint Venture to build at least two new domestic reactors. Negotiations between Turkey and Russia have moved closer to finalize an agreement to build Russian-made reactors in Turkey under the auspices of a broader energy alliance with Russia also providing natural gas and electricity. . .
The Supply Side was highlighted by Cameco's 2008 production data, which returned 17.0 Mlb U308 in commercial production. Lower than forecast production resulted from lower output at McArthur River/Key Lake and USA operations. Removal of a potential 2011 production guideline for production at Cigar Lake by Cameco indicates that this guidance for the project will be delayed. . .