Uranium Prices Advance 20% on Limited Spot Supplies

Source:

"Some market participants expect spot demand to increase during January."

Uranium prices have risen about 20% since October because of a limited supply of the nuclear fuel being available to utilities, producers and traders on the spot market, according to data provided by Ux Consulting Co.

Uranium-oxide concentrate for immediate delivery reached $62.50 a pound in the week through to yesterday, the Roswell, Georgia-based UxC said in a report. That compares with $52 a pound in the week through Oct. 25.

"As spot material has remained fairly limited, spot offers have continued to climb over the past two months," UxC said in the report. "Price increases did slow somewhat as the spot price broke the $60 mark and higher than expected sales were made toward the end of the year."

Trading is thin as the market enters the holiday season, UxC said. Some market participants are expecting spot demand to increase during January, it said.

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