TradeTech Uranium Price Climbs to Record High

TradeTech's uranium spot market price soared to US$120 per pound uranium oxide (U3O8)--setting an all-time record price as the market cautiously waits for uranium futures to begin trading on May 7.

Denver, CO (PRWEB) May 8, 2007 -- The uranium spot market price soared to US$120 per pound uranium oxide (U3O8)---setting an all-time record price as the market cautiously waits for uranium futures to begin trading on May 7.

TradeTech's weekly spot price jumped six percent on May 4, just days before the debut of NYMEX uranium futures trading. It is the latest in a series of record price levels that have occurred over the past two years, as investor interest in the market surged and near-term uranium supplies remained thin.

The spot uranium market has been quiet since the mid-April announcement that NYMEX would launch a uranium futures contract. "Sellers, in particular, have been reluctant to commit to sales based on market-related pricing terms without a clear understanding of whether the financially settled futures contract would reflect prices in the physical market," TradeTech President Treva Klingbiel stated. "And, the potential auction by a US producer further encouraged a 'wait and see' attitude by several potential sellers," Klingbiel added.

Experienced players in the uranium market remain skeptical about futures trading, as they wait to see if it will bring increased transparency and liquidity to a market that has been traditionally dominated by end users, such as electric utilities and uranium producers.

TradeTech publishes the Nuclear Market Review each Friday evening, which reports the weekly uranium spot market price, uranium trading activity, industry news, and market data. TradeTech also publishes The Nuclear Review, a monthly trade publication dedicated to the international uranium and nuclear energy industry.

TradeTech, along with its predecessor companies--NUEXCO Information Services, CONCORD Information Services, and CONCORD Trading Company--has supported the uranium and nuclear fuel cycle industry for more than 35 years, and is widely recognized for its expertise in trading activities and its comprehensive knowledge of the technical, economic, and political factors affecting this industry. TradeTech provides expert market consulting and services, and maintains an extensive information database on these industries.

For general and media inquiries contact:
TradeTech
600 Seventeenth Street
Suite 720 South
Denver, CO 80202

Phone: 303.573.3530
Fax: 303.573.3531
http://www.uranium.info

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