“The uranium market is evolving. Due to increased influence of financial players, today’s uranium spot market is more closely aligned to other commodities than it was five years ago, said TradeTech President Treva E. Klingbiel.
Denver, CO (PRWEB) March 1, 2011
TradeTech will begin publishing a Daily Uranium Spot Price Indicator, effective March 1, 2011, which will reflect data from completed and pending transactions in the uranium spot market.
The uranium spot market has witnessed more vigorous trading activity over the past two years, with a wider range of buyers and sellers. This has led to greater price volatility. In fact, the increase in the spot price last year, which climbed above US$60 per pound of uranium oxide (U3O8) for the first time in over two years, was also supported by record spot market activity. Total spot uranium sales volume in 2010 reached 42.8 million pounds U3O8—the highest level since 1990.
“The uranium market is evolving. Due to increased influence of financial players, today’s uranium spot market is more closely aligned to other commodities than it was five years ago. While volumes traded by the financial community are relatively small compared to overall nuclear power industry needs, they are significant in the uranium spot market, which had been traditionally thin and illiquid,” said TradeTech President Treva E. Klingbiel.
In addition, a global nuclear power renaissance has been gaining momentum over the past several years and has led to increased uranium spot market activity on an international level. Many nations, particularly in Asia, are engaged in nuclear power expansion programs with upgrades at existing nuclear plants and plans to build new reactors, while others are preparing to launch new nuclear power programs. “China’s ambitious nuclear power expansion plan has attracted renewed interest from the financial and investor sectors and helped propel spot price movement in 2010,” said Klingbiel.
Similar to TradeTech’s weekly and monthly price indicators, the new Daily Uranium Spot Price Indicator will reflect the company’s judgment of the price at which spot and near-term transactions for significant quantities of natural uranium concentrates could be concluded as of the close of business each day (1).
The new Daily Uranium Spot Price Indicator will complement TradeTech’s Weekly Uranium Spot Price Indicator, published each Friday in the Nuclear Market Review, and the company’s monthly Exchange Value published in the month-end issue Nuclear Market Review.
(1) TradeTech’s Daily Uranium Spot Price Indicator will be published to paid subscribers after US stock markets close (US Eastern Time) each Monday through Thursday, with the exception of US Federal government holidays and the last day of each month when TradeTech’s monthly Exchange Value is published. The Daily Uranium Spot Price Indicator is expressed in US dollars and is based on data from recently completed transactions and/or pending transactions, and firm bids to buy and firm offers to sell uranium concentrates on the spot uranium market.
TradeTech publishes the Nuclear Market Review (NMR) each Friday evening, which reports the Weekly Uranium Spot Price Indicator, uranium trading activity, industry news, and market data. The monthly edition of the NMR, published on the last day of each month, includes TradeTech Market Values (Exchange Value, UF6 Value, Loan Rate, Conversion Value, SWU Value, and Transaction Value) and Mid- and Long-Term Price Indicators, as well as analysis related to these price determinations, supply/demand information, and industry news. TradeTech also publishes The Nuclear Review, a monthly trade publication dedicated to the international uranium and nuclear energy industry.
TradeTech, and 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 40 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, participates in the buying and selling of uranium products and services, and maintains an extensive information database on these industries.
For general and media inquiries contact:
Denver Tech Center
7887 E. Belleview Avenue
Englewood, CO 80111